Who's Abandoning The Big, Bad Dollar·
Posted By: Dr. Frugal in Currency on 10/17/2007 at 07:46:58
So who is cashing out on the dollar· Looks like China and Japan. According to the article Asian investors dumped $52bn worth of US Treasury bonds alone, led by Japan ($23bn), China ($14.2bn) and Taiwan ($5bn). It is the first time since 1998 that foreigners have, on balance, sold Treasuries.
Wow. That is a ton of money. I knew it was just a matter of time before China started bailing out but I figured Japan would wait a little bit longer since the Yen isn't exactly burning up the charts. Shows what I know (very little).
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