USD skyrockets

Monday, 2 May 2011 11:18

Triumph by the American people in the United States as President Obama announced in a late night conference that Osama Bin Laden was finally captured and killed in a firefight in Pakistan where Bin Laden had reportedly located his hideout.  US military forces discovered the location and proceeded on to find the man himself.  Osama's body is being held by the US.

This news caused the Dollar to skyrocket and start possibly start recovering from 3-year lows.  EUR/USD is trading at 1.4809, from last week's 16-month high for the Euro at 1.4881.

AUD/USD opened its market at 1.0968 and had peaked at 1.1009 and flunked again at 1.0943.