US nonfarm payrolls increased more than expected with 252,000 new jobs added in December. Together with the revision to the November figures,the report highlights the strength of the US economy, says Saxo Bank’s Mads Koefoed.

The US Labour Department revised the November nonfarm payroll up to 353,000 from 321,000. Unemployment was lower than expected at 5.6%. Mads says the bad news in the report was the decline in the job market participation rate and in hourly wages month-on-month.

Mads says that overall it was another solid job report from the US, which should further strengthen the dollar as it highlights that the economy is doing “quite well.”