Demand increases for safety currencies and a drop in stocks encouraged investors to sell the “16-nation” currency to limit losses, so US dollar gained against the euro in Forex Trading. The dollar gained 0.3 percent to $1.4294 per euro at 3:37 p.m. in New York, from $1.4341 yesterday.

The New Zealand dollar and Norwegian krone had the best performances in August against the US dollar and other major currencies. Investors expect an economic recovery would enhance demand for the exporter nations, specially powdered milk and crude oil.

In other main news,  Gross domestic product in Poland expanded an annual 1.1 percent in the second quarter as exports contributed a net 3.12 percentage points to growth, according to a preliminary report from the Central Statistical Office in Warsaw today. Sterling was the biggest loser against the dollar among major currencies this month regarding the U.K.’s recession that may last longer than other countries. The Bank of England said on Aug. 6 it would expand its asset-purchase program, pumping money into the economy to stem the economic contraction.