The dollar index soared to 109.7 on Friday, the strongest level since late 2022, after a stronger-than-expected jobs report underscored the resilience of the US labor market, bolstering the Federal Reserve's cautious approach to further rate cuts. The US economy unexpectedly added 256K jobs in December, way above forecasts of 160K and the unemployment rate surprisingly dropped to 4.1% from 4.2% while wage growth slowed to 0.3% as expected. Traders expect the Fed to leave the fed funds rate steady until the second half of the year. Another reduction is now fully priced in October only versus July before. The dollar strengthened across the board but the biggest gains were seen against the British pound, the Swiss franc and the Euro.