Dollar gives up 4-month peak on profit taking

The US dollar fell on Monday, to head for its first loss in four days, pulling back from a 4-month peak on profit taking, but the greenback these losses remain limited due to strong US economic data, which have spurred investors confidence in the US economic growth during Q1 this year.

The dollar index fell against a basket of major currencies by more than 0.1% to 99.04 points, after it opened at 99.16 and hit an intraday high of 99.17.

The index gained 0.1% on Friday, its third straight daily gain, jumping its 4-month high of 99.17 points.

The greenback gained 0.5% during the past week, its second straight weekly gain, after the release of successive strong economic data in the US.

These data have spurred investors confidence in the US economic growth during Q1 this year, boosting market bets on the Federal Reserve to keep the interest rates unchanged at 1.75% during this year.

The US won't release any data today, as the market will be closed in observance of the "Presidents Day" public holiday.