US Treasuries positions are reduced by Japan and China in November

US Treasuries positions are reduced by Japan and China in November

In November, Japan and China, the two leading foreign American creditors, diminished their holdings of American government debt, when the evergreen buck weakened versus the two countries' currencies, as data from the US Treasury Department published on Wednesday revealed.

Their reduced position in American Treasuries underpinned the notion, which foreign key financial institutions are actually cutting back their greenback exposure in their FX reserves.

Reserve diversification has recently drawn attention of market participants with the underperformance of both the evergreen buck and Treasuries consistent with hopes of major banks cutting allocation to the US currency, as some financial analysts stressed.  

In October, the International Monetary Fund informed that the greenback’s share of global FX reserves dived in the third quarter of last year to 63.5%, which is its smallest outcome since mid-2014.

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