China boosts purchases of US Treasuries in July

New York

CHINA ramped up purchases of US Treasuries for a sixth straight month in July, data from the Treasury Department showed on Monday, as the Chinese government saw less need to sell its US holdings because of a steadily improving Chinese currency.

For most of 2016, China had to sell its holdings of US government debt to support its depreciating currency as the government grappled with capital outflows.