Anna 
In American trade on Friday, the U.S. dollar rallied to two-month highs against a basket of major rivals following robust U.S. labor data that highlighted the strength of the job market. The strong data reduced the likelihood of a U.S. interest rate cut in March and also impacted the odds for a rate cut in May.
The dollar index, which measures the greenback against a basket of currencies, rose by 0.8% to 103.86, reaching its highest level since December 13. The index had experienced a 0.5% loss on Thursday, the most significant decline since December 27, as U.S. yields had fallen.
The surge in the U.S. dollar was a reaction to the strong employment data, which tempered expectations of imminent monetary policy easing by the Federal Reserve. The reduced likelihood of a rate cut in March and May contributed to the dollar’s gains against major rivals.
