SINGAPORE, Feb 5 Reuters The dollar rose to an eightweek top against its major peers on Monday as traders clawed back bets for aggressive rate cuts by the Federal Reserve this year in view of a stillresilient U.S. economy.

The yen as well as the Australian and New Zealand dollars, meanwhile, tumbled to twomonth lows in early Asia trade, while the euro bottomed at a more than onemonth trough of 1.07675. The single currency last bought 1.0782.

Sterling similarly edged 0.18 lower to 1.2610, having earlier bottomed at 1.25985, its lowest since Jan. 17.

Against a basket of currencies, the dollar index peaked at 104.18, its highest since December. It was last steady at 104.02.

The Fed repricing has come on the back of Friday39;s blockbuster U.S. jobs report that far exceeded market expectations, reinforcing Chair Jerome Powell39;s statement at the conclusion of the central bank39;s policy meeting last week that a March rate cut was unlikely.

A onetwo punch from Jay Powell39;s FOMC presser and a very strong nonfarm payrolls report have essentially closed the door on a March rate cut, said Chris Weston, head of research at Pepperstone.

Traders are pricing in less than a 20 chance that the Fed could begin easing rates in March, as compared to a nearly 50 chance a week ago, according to the CME FedWatch tool. The odds for a cut in May have also lengthened.

In an interview with the CBS news show 60 Minutes that aired Sunday night, Powell said the Fed can be prudent in…