The January jobs report revealed a drop in the unemployment rate to 4%, accompanied by payroll gains of 143,000. A Fed interest rate cut in March is now very unlikely.

The yen climbed to a nine-week high on Friday as market players piled on bets for more interest rate hikes in Japan this year, while the U.S. dollar and other major currencies were little changed ahead of U.

Bank boss Andrew Bailey told the BBC it expected to cut rates further but warned the road ahead would be bumpy.

The Reserve Bank of India's (RBI) first interest rate cut in nearly five years will not be enough to spur loan growth since the tight liquidity conditions will prevent banks from passing on the benefits,