John Kicklighter, chief strategist at DailyFX.com, argues that the greenback will remain strong over the next few years as the currency is considered a safe-haven play, especially in times of turmoil. Meanwhile, other major economies, like Japan and the Eurozone, have shown weakness, which “gives the dollar another advantage,” Kicklighter said in the article.

ETF traders can also capitalize on the turn in the Japanese yen and European euro. For instance, the ProShares Short Euro (NYSEArca: EUFX)  is designed to provide 100% of the inverse, or opposite, return of the U.S. dollar price of the euro, on a daily basis and the ProShares UltraShort Euro (NYSEArca: EUO) provides 200% of the inverse return of the U.S. dollar price of the euro on a daily basis. EUFX rose 8.6% year-to-date and EUO increased 18.2%. Additionally, the ProShares UltraShort Yen (NYSEArca: YCS), which tries to reflect the daily -2x or -200% daily return of the USD/JPY currency pair,gained 22.8% so far this year. [Catalysts for Dollar ETFs]

The inverse euro currency options may be a good hedge if the Eurozone finds itself in a triple-dip recession.

“There’s a good probability that the euro zone will suffer another recession before the euro stabilizes,” Kicklighter added.

For more information on the USD, visit our U.S. dollar category.

Max Chen contributed to this article.