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Thread: When China speaks, the world listens
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[quote=CANADAGUY,254095]China announced to the world today that it would be selling off some of its huge U.S. dollar holdings. The U.S. dollar has been steadily weakening over the past year and as a result China wants to lighten its investment in that currency ($1.43 trillion US). The announcement put even more pressure on the U.S. dollar today, This was a big financial news item, as countries around the world will be influenced by it, and consider selling some of their $U.S. holdings as well. In the meantime, the Canadian dollar continued to soar to record levels ($1.10 US today). Canada's dollar gets an additional boost from the country's rich natural resource reserve (oil, gas, metals). [/quote]
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