China says diversifying FX reserves, warns report on U.S. bonds may be ‘fake’
China is diversifying its foreign exchange reserves in order to safeguard their value, the country’s currency regulator said on Thursday, while dismissing a media report the government is halting or reducing its purchases of U.S. debt. Bloomberg News reported on Wednesday that Chinese officials reviewing the country’s vast foreign exchange holdings had recommended slowing or halting purchases of U.S. Treasury bonds amid a less attractive market for them and rising U.S.-China trade tensions. The report sent U.S. Treasury yields to 10-month highs and the dollar lower.
Source:: https://finance.yahoo.com/news/reports-china-slowing-u-debt-040916630.html
