The U.S. added 256,000 jobs in December, beating expectations for a gain of 155,000. This is the largest job growth since March.  The surge in jobs made it less likely that the Federal Reserve would cut rates anytime soon.

In Japan, solid wage growth in November has prompted speculation that the Bank of Japan (BoJ) will raise interest rates in January.

The U.S. dollar is estimated to have climbed to a 55-year high at the end of 2024 by one inflation-adjusted measure, according to Bank of America Securities analysts. 

• This was driven in part by Wall Street lowering its expectations for interest-rate cuts. 
• It also reflects expectations that President-elect Donald Trump’s policies will boost economic growth in the near term, per Bank of America.