The rise in US interest rates caused the dollar to strengthen (= increase in value) against all the Asian currencies.

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A discussion paper aiming to strengthen the EU”s competition regime has been circulated amongst commissioners.
Research and development expenses amounted to €76m in the first six months, reflecting the company”s desire to further strengthen its technological leadership.

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strengthen your position/performance/control Mobile operators need to strengthen their control over revenue and profit.
strengthen laws/regulations/mechanisms The Oil Conservation Division is in the process of trying to strengthen regulations over oil waste pits.
if the financial position of a company, economy, etc. strengthens, or if something strengthens it, it improves:
Proceeds of the sale will be used to pay off existing debt in order to strengthen the balance sheet.

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be strengthened (by sth) Their market position has been strengthened by the purchase of their main US rival.
if a currency strengthens, or if something strengthens it, it increases in value compared to other currencies:
This strengthens the case for work factors having a greater impact on socioeconomic inequalities in psychological distress among men.
More generally, greater synthesis of research findings and more explicit discussion of explanatory theories and concepts would have strengthened the value of the book.
Every centre was encouraged to strengthen its social science research, to address particular themes and overall staff numbers.
As the structural dimension of solidarity had not strengthened, it was not surprising that the third hypotheses also had to be rejected.
This should rather have strengthened their original support for the tax, instead of turning them against it.
Because this strengthening typically takes place through a reduction in credit creation, it can produce a credit crunch that exacerbates the recession.
Since it does not, this assumption strengthens the analysis that it is not present in these persons and numbers.

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