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Dollar Slumps to Record on China's Plans to Diversify Reserves
News Type: Event — Seeded on Wed Nov 7, 2007 4:42 AM EST
Article Source: Bloomberg.comadvertisement
Nov. 7 (Bloomberg) -- The dollar slumped to a record low against the euro after Chinese officials signaled plans to diversify the nation's $1.43 trillion of foreign-exchange reserves in response to a falling U.S. currency.
``We will favor stronger currencies over weaker ones, and will readjust accordingly,''
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