PBOC advisor Xia Bin tells Dow Jones, opining that “diversification is a long-term trend.”
Comments suggest China has no intention of appreciably lowering it’s holding of euros given the current crisis. Can’t say I thought they would. Anyways comments good for a few points on EUR/USD, which is up at 1.2350 presently.
Xia Bin also opined that China should continue to increase its holdings in gold over long run.
Thanks to Iman for heads up.
