WASHINGTON/NEW YORK – China’s holdings of U.S. Treasuries fell for a third consecutive month in August as the Asian nation struggles to prevent the yuan from weakening amid trade tensions with America.
China’s ownership of U.S. bonds, bills and notes was $1.165 trillion, down from $1.171 trillion in July, according to data released by the Treasury Department on Tuesday. Japan, which is the largest foreign owner of Treasuries after China, decreased its holdings to $1.03 trillion from $1.036 trillion a month earlier. Saudi Arabia boosted its ownership by $2.7 billion to a record $169.5 billion.
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