Chinese whispers frighten currency markets

From the Financial Times: “The dollar fell to new lows on Friday on rumours that might shift some of its currency reserves away from the greenback, highlighting the dollar-related jitters in financial markets.

The fragility in currency and bond markets has centred on fears that Asian central banks might dump US to avoid large losses as the dollar’s value falls. The markets’ nerves were highlighted by Friday’s reaction to a report, later retracted, that China’s was offloading US Treasury bonds. ”

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