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Dollar Defying Skeptics as Best-Returning Asset

The dollar proved to be last month’s best investment, beating stocks, bonds and commodities, confounding officials around the world who said Federal Reserve policies would debase the U.S. currency.

The U.S. Dollar Index, which tracks the currency against those of six major U.S. trading partners including the euro, yen and pound, rose 5.09 percent in November. The Thomson Reuters/Jefferies CRB Index of 19 commodities was little changed. The MSCI All Country World Index of stocks fell 2.2 percent after accounting for reinvested dividends. Bonds lost