The U.S. dollar rose on Monday, driving its peers to multi-year lows, after Friday's blowout U.S. jobs report underscored the strength of the economy and muddied the outlook for further Federal Reserve rate cuts this year.

St. Louis Fed President Alberto Musalem suggests greater caution is warranted on reducing interest rates.

A selloff in the $28 trillion Treasury market deepened after a blowout US employment report reinforced bets among traders and Wall Street economists that the Federal Reserve will hold off on further interest-rate cuts.

Canada's main stock index slid to a two-week low on Monday, as investors globally avoided risky assets after last week's robust U.S. jobs data dashed expectations of the Federal Reserve cutting interest rates this year.

Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes.

Monday rose by +0.23% and posted a new 2-year high. The dollar on Monday had carryover support from last Friday’s stronger-than-expected US Dec payroll report that reduced the chances of Fed rate cuts.

The dollar rose on Monday, driving its peers to multi-year lows, after Friday's blowout U.S. jobs report underscored economic strength and fueled growing doubts about the Federal Reserve cutting interest rates this year.