(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. Most stock markets across the region rallied on the news as well. Japan’s Nikkei closed at a post-quake high just above the psychological 10,000 mark, up 1.6% to 10,004. Markets in China, Hong Kong, Singapore and Thailand were closed for the International Labor Day holiday. In U.S. pre-trading, the Dow, NASDAQ and S&P futures looked poised to add gains with all stock index futures up. |
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updated 1750 GMT, May 24
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A 1/3 of percent is hardly a surge and don't expect it to be durable. Bin Laden's health was hardly a factor in the dollar value.
If you have ever wondered what is wrong with the world's currency and financial markets, just read the above headline "Bin Laden's death drives US dollar".
Err ... why?
Why make a title sound so disgusting? 'Bin Laden's death drives U.S. dollar.' Seriously. Why not use a more appropriate title?
Now we need to assassinate the national debt...
I know it was out of respect for the Islamic culture that Bin Laden's body was disposed of so quickly.The Americans in charge of the operation had up till 24 hours to do so.The question is, "did they have to do that as soon as possible?".
Hell to the Chief. Thank you President Obama for your statement during your candidancy "That OSAMA BIN LADEN" would be captured and killed. ALL THE CREDIT TO YOU, MILITARY, AND THE CIA. I do not know why John King would say "thanks to George Bush" last night. Hell Bush made a deal w/the devil and had no intentions of capturing him and to be honest; killing him neither. For 10 years (Bush had 8 yrs) and President Obama did and set out what he knew would prevail for the "Killing of Bin Laden". Give credit where it's due and stop trying to belittle The President of the United States. What will it take for some people to acknowledge and accept that Obama is "THE PRESIDENT" OF THIS UNITED STATES OF AMERICA. Now that's the SIGNATURE OF THIS PRESIDENT. He did something extravagant and I will always remember him (Obama) for his dedication; loyalty, humility and vision for the country and the people of this country. CONGRATULATION!!!!!!
OBAMA/BIDEN 2012
The Dollar has been falling again. Now at 1.4891 vs the Euro.
Keeping our dollar down causes our price for oil high as oil is paid in dollars. A stronger dollars makes America stronger!!
Great, America pokes the hornets nest and the rest of the world goes on alert for possible reataliations. All in an election year. Call the rest of us cynical.
.............................How does this work, is the government is still overprinting the currency? So.......since the manhunt's over.....will they finlly focus on the economy..... rather on more wars. MORE WARS= MORE MONEY NEEDED= MORE DEBT.......soo will they slowly start to pull out, or stay and watch for the second gerneration.....or people who want to fill his shoes.
It may be a good thing he's dead, but the US is in it for the long haul, even if this is over, there's also Lybia.....Let the countries deal with their own problems will bring the US doller up though....kill one, ten will take his place.
&&& Pull out if Iraq & Iran, there are soldiers killing civillians!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
so does this mean gas prices are going down.
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