Dollar surges as Fed ends QE on hawkish note

NEW YORK: The dollar surged to a three-week high and government bond yields rose on Thursday, one day after the U.S. Federal Reserve took a more hawkish tone in its assessment of the economy as it announced the end of its six-year bond-buying program.

Global equity markets rose, led by a late-day surge on Wall Street, following the release of surprisingly strong third-quarter economic growth in the United States.