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China Diversification Fears Hit Dollar

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THE PERPETUALLY DOOMED DOLLAR
"The dollar dropped to a fresh 14-month low against the euro on Monday after the People’s Bank of China suggested that, while the dollar should remain dominant, the share of the euro and the yen should increase in its foreign exchange reserves," the Financial Times reported. "Fears that China would diversify its reserves away from a weakening dollar have been a drag on the US currency in recent months amid repeated concerns from Chinese authorities over the value of its stockpiles."
SOURCE:   Financial Times

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