The U.S. dollar rallied across the board on Friday after data showed the world's largest economy created more jobs than expected last month, reinforcing expectations that the Federal Reserve will pause its rate-cutting cycle at its policy meeting later this month.

The dollar rallied, while U.S. stocks fell sharply on Friday after data showed the U.S. economy created far more jobs in December than expected, reinforcing the belief among investors that U.S. interest rates may not fall much this year.

Equities fell Friday as traders prepared for the release of US jobs data that could play a key role in the Federal Reserve's decision-making on interest rates, with several officials

US jobs data sparks Wall Street sell-off while pound slump continues - Global stock markets were in the red on Friday as investors reacted to stronger-than-expected labour market data from the world’s largest economy.

Canada's main stock index tumbled over 1% on Friday after a stronger-than-expected U.S. payrolls data sparked fears of a highly cautious approach towards interest rate reduction by the Federal Reserve this year.