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Dollar, stocks rises; oil slides on Osama’ death
Published on 3 May. 2011 2:10 AM IST
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The US dollar rose against the euro and the yen after reports on Monday that al-Qaida leader Osama bin Laden had been killed nearly 10 years after the September 11 attacks.
The dollar rose against the euro, which fetched 1.4764 dollars from 1.4864 in earlier trade. The dollar was at 81.66 yen from 81.19 earlier. Investors unwound short dollar positions on falls in crude oil prices on the news that bin Laden is dead, Tomohiro Nishida, senior dealer at Chuo Mitsui Trust and Banking, told Dow Jones Newswires.
US armed forces have been hunting bin Laden for years, an effort that was redoubled following the attacks on the World Trade Center in New York and the Pentagon, which killed 3,000 people in 2001.
Meanwhile, Asian stocks rose on Monday and US stock index futures extended gains on the back of media reports that Osama bin Laden was dead.
US crude slid more than 1% to $112.51 a barrel after CNN reported that Al Qaeda’s elusive leader Osama bin Laden was dead and his body has been recovered by US authorities. US stock index futures rose 0.9 percent and MSCI’s gauge of Asian stocks excluding Japan.
US Treasuries fell, pushing yields higher across the curve. The 10-year yield climbed 2.4 basis points to 3.314 percent.

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