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.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
On Wednesday, the US central bank raised interest rates by 25 basis points.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
The index rose 1.1 percent on Friday.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
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.<\/p>\n","protected":false},"excerpt":{"rendered":"
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