The dollar took fell down on Tuesday but was still not far from four-year peak against most major currencies, and could be on track to post its biggest monthly gain in over a year.

Some analysts cautioned that its three-month long rally was at risk of running out of steam for now, particularly against the yen.

Over the past three months, the dollar index has risen more than 7 percent, with the reason might be the expectations that the Federal Reserve will start to raise interest rates well ahead of its European and Japanese counterparts.

 

Trading TipThe USD has been doing well lately and it's a good time to trade it.

 

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The New Zealand dollar sank Monday after the central bank said that it conducted its biggest sell-off of the currency in seven years to lower an exchange rate that is squeezing exporters.

Data released by the Reserve Bank showed it sold 521 million New Zealand dollars ($410 million) during August. That came after the central bank governor, Graeme Wheeler, said the currency was too strong.

 

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Political problems in Hong Kong on Monday caused a drop in the Asian shares. Hong Kong shares dropped by 2.3%, to a 3 month low.

The US dollar on the other hand keeps climbing as the world’s biggest economy is doing very well lately.

Investors expect that shares in Europe will rise today, affected by the good numbers the US stocks saw on Friday after they published their annual quarter growth figures.

 

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In the last quarter, the US economy grew after a pretty bad winter. The recovery was faster than people expected and suggests that it will keep growing for the rest of the year as well.

If we measure the economy by sales of domestic product, the US economy grew at a 4.6% annual rate from April to June according to the Commerce Department on Friday. It was the fastest rate in more than 2 years and higher than the expected 4.2%.

The growth reflects strong business investment and export in the last quarter. As the quarter about to end, economists are expecting a good economy through the end of 2014 and into 2015.

Sal Guatieri, senior economist at BMO Capital Markets, is slightly more optimistic than most. “The American economy is firing on virtually all cylinders and cruising at a decidedly stronger rate than in recent years,” Guatieri said.

 

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