China still buying euros

Traders thought the Chinese were propping up the euro the other day, but it may have just been bargain hunting.

Euro's Fall Leaves Beijing Unmoved
The euro's plunge on Europe's sovereign-debt crisis won't deter China from diversifying its massive foreign-exchange reserves, an adviser to China's central bank said Tuesday.

"Diversification is a long-term trend," Xia Bin, an adviser to the People's Bank of China, said in a telephone interview.

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