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Chinese news boosts euro


Chinese news boosts euro


The euro rose in value on Thursday after China’s central bank said Europe remained a key investment market for the country’s foreign exchange reserves.

In addition it denied a report in the Financial Times that it has been reviewing its holdings of euro zone bonds.

The euro also benefited from a government official saying Beijing remains committed diversifying its foreign exchange reserves in the long-term.

The central bank said that China is confident the euro zone will be able to overcome its difficulties and supported the actions taken by the International Monetary Fund and the European Union to stabilise financial markets.

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