The dollar bounced back sharply in November, especially against the euro, as anxiety about the health of government finances increased dramatically in the peripheral economies of the euro-zone. US Treasury yields rose substantially in response to signs of improvement in the economic data and profit-taking in the wake of the Fed’s announcement of further monetary easing. Equity markets put in a mixed performance, with Japan outperforming as the yen ceded ground. The prices of oil and gold rose.
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