Dollar up as solid US jobs report sets stage for Fed hikes

New York

THE dollar rose on Friday, boosted by a solid US jobs report, after tumbling the day before on mixed US economic data and apparent action by the Chinese authorities to shore up the yuan.

The dollar gained broadly against major currencies after the US non-farm payrolls report showed a slowing in hiring in December but an increase in wages, setting the economy up for further interest rate increases from the Federal Reserve this year.