AUTOREFRESH 
China fx regulator says will diversify among major currencies and high-quality assets
By Gerry Davies || December 4, 2009 at 07:46 GMT
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But that country’s fx reserves are still anchored on U.S. dollar.
Other comments:
- Dollar’s status as main reserve currency will not change near-term
- Will further improve yuan’s managed float
The comments will have helped undermine the USD this morning.
They can say what they want … it helps when you have two trillion plus dollars in reserves
Whine, whine whine. Poor babies. Who in hell told them to keep buying US tsy’s and who forced their banks to buy derivative crap?
“Chinese official are blaming US banks for selling some of the country’s state-owned companies complex derivatives on which they lost money. The FT and other media report that “A senior Chinese official who oversees the country’s largest state-owned enterprises has publicly slammed western investment banks for `maliciously’ peddling complicated derivative products that caused huge losses for Chinese companies “