The U.S. dollar gained ground against its major counterparts despite the dismal non-farm payrolls report, and the greenback may continue to push higher going into the end of the week as it benefits from the flight to safety. The slower-than-expected pace of labor growth was mostly contributed to the harsh weather conditions that damped economic activity in January, but the ongoing slack within the labor market may continue to weigh on the outlook for future growth as private sector spending remains one of the leading drivers of growth. Given the subdued recovery in employment, the Federal Reserve is likely to retain a cautious outlook for the real economy, and the central bank may see scope to expand monetary policy further this year as it aims to stem the downside risks for growth and inflation.