he focus on China portends more turbulence ahead for financial markets, according to ING Groep NV.
Dollar investors are getting paid more than ever to enter a trade that takes the currency risk out of their euro-based returns.
China’s ownership of U.S. bonds, bills and notes was $1.165 trillion, down from $1.171 trillion in July.
China’s holdings of U.S. Treasuries fell to a six-month low in July.
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Japan Stock Surge Has America Wanting In, Minus the Plunging Yen
Buoyed by Rising U.S. Yields, Dollar Faces Threats From Abroad
The yield on benchmark 10-year Treasuries reached about 3.16 percent Wednesday, the highest since 2011.
Canadian dollar also got a boost from a report that Royal Dutch Shell and its 4 partners have agreed to invest in western Canada.
Cross-currency basis swaps are often tapped by treasurers at MNCs or long-term investors seeking to hedge away forex risks.
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Federal Reserve Chairman Jerome Powell gives foreign-exchange traders another reason to sell the dollar.
Some Wall Street observers say the possibility of Trump launching a campaign to weaken the dollar can’t be dismissed.
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