May 2nd, 2011
08:59 AM GMT
Share this on:

(CNN) – The U.S. dollar immediately strengthened on confirmation of Osama bin Laden’s death in Asian trading Monday.

After news broke, the dollar surged to 73.27 on the U.S. Dollar Index after trading at nearly a three-year low of 73.02. The index measures the greenback’s strength against a basket of six other major world currencies.

As of 3:30 p.m Hong Kong time, the dollar was trading at 73.17.

Commodities prices also reacted swiftly to the death of the 9/11 mastermind. Both Nymex and Brent crude fell indicating, at least temporarily, an easing of investor anxiety. Spot gold also declined as investors moved away from the safe haven.

About Business 360

CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback.

Powered by VIP