Dollar is rising after strong US jobs data

The dollar held firm against the euro on Monday, with traders expecting the Federal Reserve to likely raise the benchmark interest rate above 5 percent and keep it at that level to rein in inflation, after data revealed that the labor market remains strong.

The Turkish lira fell to a record low of 18.85 against the dollar after a strong earthquake hit central Turkey and northwestern Syria, as well as the rise of the dollar, which put pressure on emerging market currencies.

On Wednesday, the US central bank raised interest rates by 25 basis points.

The dollar index, which measures the greenback’s performance against a basket of currencies, touched a three-week high on Monday at 103.25, not far from that level, by 0926 GMT, rising 0.1% to 103.23.

The index rose 1.1 percent on Friday.

The euro fell 0.2 percent and touched its lowest level in nearly three weeks at $1.0769. The euro rose to a ten-month high on Thursday.

The Japanese yen fell 0.5 percent to 131.90 against the dollar and touched a three-week low of 132.60 yen against the dollar earlier in the session.