Daily

Daily Currency Market Update:


HIGHLIGHTS:

The dollar held onto modest gains against other major currencies on Thursday, as concerns surrounding news that China may halt its U.S. bond purchases continued to ease. China’s foreign exchange regulator said on Thursday that a report about Beijing slowing or halting its U.S. bond buying may be based on erroneous information and could be "fake". The dollar weakened broadly on Wednesday after Bloomberg reported that Chinese officials reviewing foreign-exchange holdings had recommended slowing or halting purchases of U.S. bonds. China is the largest foreign holder of U.S. government debt. The greenback was already vulnerable after the Bank of Japan trimmed the size of its bond purchases on Tuesday, sparking speculation that it could start to scale back its monetary stimulus later this year. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.10% at 92.20 by 05:15 a.m. ET (09:15 GMT).

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