U.S. Dollar and China Yuan notes are seen in this picture illustration June 2, 2017. (REUTERS/Thomas White/Illustration/File Photo)
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China denied on Thursday a report that it may slow or cease its purchases of US Treasury bonds, calling it a possible case of "fake news" after the dollar tumbled following the story.Bloomberg News reported Wednesday that officials reviewing China's foreign-exchange holdings had recommended slowing or halting purchases of US Treasurys, citing people familiar with the matter.Beijing is the biggest holder of US debt and the news was seen by some as a veiled threat to President Donald Trump following his tough talk on global trade and, in particular, what he sees as China's unfair practices.Beijing's massive US debt holdings are a bugbear for some US politicians, who claim they give China too much leverage over Washington.But any attempts to use that power could hurt the dollar, damaging China's own US holdings.
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