Forex News- Dollar rising upon the announcement of Osama Bin Laden found dead

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The mastermind behind the 911 attacks and the leader of the terrorist group Al-Qaeda was reported to be found dead on Sunday after being killed in a firefight exchange with the US forces in Pakistan. This result has marked a year-long manhunt that started from 2001 to locate one of the world’s most notorious and wanted criminals. President Barack Obama announced the news of the body of bin Laden being found near Islamabad.

The US public welcomed this news with a great pleasure feeling that Osama bin Laden was finally brought to justice and developed a sense of safety. This was also evident in the US market as following the announcement US stock figures rose by a near 0.7% while the US Treasury and gold prices dropped. Therefore the value of the American Dollar buoyed and it’s of great interest to see whether this reaction was temporary or could be just the help the Dollar needs to recover from the 3-year long lows is currently at.