Yen, Franc Drop After Obama Says Bin Laden Killed; Euro Rises

The yen and the Swiss franc weakened as stocks climbed after President Barack Obama said al-Qaeda leader Osama bin Laden was killed by U.S. operatives, damping demand for the safest assets.

The U.S. Dollar Index snapped a nine-day decline and Canada’s dollar slid after Brent crude oil dropped the most in almost seven weeks following reports of bin Laden’s death. The euro strengthened versus the U.S. currency and the krona appreciated after reports showed manufacturing in the euro region and Sweden is picking up.