Lira rallied 3% against dollar, its best daily performance in 7 years The dollar weakened against its main rivals Monday as investors looked ahead to Friday’s report, which some investors believe could determine whether the Federal Reserve raises interest rates this year. The ICE U.S. Dollar Index DXY, +0.12% a measure of the dollar’s strength against a basket of six rivals, was flat at to 96.9300. “This payrolls number and the payrolls number next month will be really important in determining the outlook for the dollar,” said Omer Esiner, chief market analyst at Commonwealth Foreign Exchange. Economists are looking for 177,000 news jobs in October — that is the consensus estimate from a survey conducted by MarketWatch. The only other piece of potentially market-moving data expected Wednesday is a survey of service-sector activity from the Institute for Supply Management, Esiner said. After a measure of manufacturing-sector activity was released on Monday, the dollar trimmed some of its early losses against the yen. It USDJPY, +0.03% traded at ¥120.79 late Monday in New York, up 0.2% from ¥120.62 late Friday in New York. The euro EURUSD, -0.2905% traded at $1.1009 Monday, little-changed from its late Friday level. Data released Sunday showed China’s official manufacturing purchasing managers index remained unchanged at 49.8 in October from a month ago, undershooting the 50.0 level expected. The data caused commodity-linked currencies like the New Zealand dollarNZDUSD, -0.4299% to weaken. Yuan USDCNY, +0.0126% trading at China’s onshore rate finished the Asia trading day at 6.33 to the dollar, down 0.3% from 6.32.Turkish lira The Turkish lira logged its strongest performance in seven years on Monday after President Recep Tayyip Erdogan’s Justice Development party strengthened its grip on power in a weekend election. Turkish assets rallied Monday, but economists warned that gains would likely be short-lived. “The relief rally in Turkish markets is likely to fizzle out before long as it becomes clear that the AK Party will deliver more of the same,” said David Rees, a senior market economist at Capital Economics, in a note to clients. The lira USDTRY, +0.6339% traded at 2.82 lira to the dollar late Monday, up more than 3% from 2.92 late Friday in New York. More from MarketWatch