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The prospect of a less hawkish Fed boosted by Chairman Jerome Powell’s speech yesterday was priced in by the US dollar, which did a sharp about-turn yesterday, sending the euro higher to $1.0441. Furthermore, the euro finished November with its best month against the dollar since 2010, ie in the last 12 years. The euro-dollar, which had started November at 0.9883, ended the month at around $1.0418, catching up and surpassing parity. Precisely, the bets of investors on a less hawkish Fed which weakened the US dollar quotations supported the euro.