Moves in currencies were largely muted compared to the broader market, where a rout in technology stocks swept across Asia

The dollar was perched near a ​two-month high on Monday after a blowout U.S. jobs report sent traders ramping up bets on a central bank ‌rate hike this year.

Moves in currencies were largely muted compared to the broader market, where a rout in technology stocks swept across Asia. The dollar held to its strong gains made in the wake of the report that showed nonfarm payrolls increased by 172,000 jobs last ​month, far exceeding estimates.

Against the dollar, the euro dropped to a two-month low of $1.1507, while sterling struggled at a three-week ​low of $1.33165.

The Australian and New Zealand dollars similarly slipped to their lowest in two months at $0.7016 ⁠and $0.5779, respectively.

The U.S. payrolls report released. It paints a picture of a U.S. labour market that is strengthening despite the ongoing energy price ​shock, said Jonas Goltermann, chief markets economist at Capital Economics.

That combination makes policy tightening by the Fed later this year increasingly probable. ​We now expect the FOMC to deliver two 25-basis-point rate hikes later this year, in response to the energy supply shock and the re-acceleration of the U.S. labour market.

Prior to the release of the jobs report, traders had been gradually adding to bets on a central bank hike this year, as the ​international energy crisis tied to the Iran war threatens to stoke inflation.

Markets are now pricing in a more ‌than 70% ⁠chance that the country’s central bank will raise rates in December, sharply up from a 45% probability a week ago, according to the CME FedWatch tool.