NEW YORK: The dollar slid from a five-week high on Monday, pressured by a weak manufacturing index in New York state and as it consolidated gains made last week amid fears about the debt ceiling and the US economy.

In emerging markets, the Turkish lira sank to a near record low as weekend elections looked headed for a runoff, while the Thai baht rallied after a more decisive election result.

The greenback took an early dive after data showed the New York Federal Reserve’s Empire State manufacturing index plunged to -31.8 this month from a reading of 10.8 in April.

The euro was up 0.2% against the dollar at $1.0875, rebounding after falling 1.54% the previous week.

The dollar was up 0.3% against the yen at 136.14, while sterling was 0.5% higher at $1.2513, rebounding after last week’s 1.45% fall.

Elsewhere the dollar was last up 0.5% at 19.67 Turkish lira. It earlier jumped to 19.7 for the first time since March 10, when it hit a record high of 19.8 on a volatile trading day.

The dollar sank 0.5% to 33.81 baht in onshore Thai trading. Thailand’s opposition parties secured a stunning election win on Sunday.