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Dollar Gains Most Against Euro Since 2005; Yen Is Top Performer

The dollar had its biggest gain against the euro in five years as concern about Europe’s debt crisis spurred demand for alternative investments while the Federal Reserve embarked on a plan to buy U.S. debt.

The U.S. currency weakened against 12 of its 16 major counterparts as record-low interest rates sent investors searching for higher-yielding assets. The yen was the best performer against the greenback in 2010 even as the Japanese government took steps to weaken it. Currencies linked to commodities surged against the dollar as raw material prices hit records. U.S. employers added 140,000 jobs in December, a report may show next week.