Euro rebounds after China dismisses report about euro

13:09, May 28, 2010      

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The euro rebounded against major currencies on Thursday after China's foreign exchange regulator dismissed a report that China was reviewing its euro holdings.

The Financial Times, without citing sources, reported Wednesday that China was reviewing its holdings of eurozone debt in the wake of the crisis that has swept through the region's bond markets.

Representatives of China's State Administration of Foreign Exchange(SAFE), which manages the reserves under the country's central bank, has been meeting with foreign bankers in Beijing in recent days to discuss the issue, according to the report which drove the euro lower in Wednesday trading.

The FT's report was totally "groundless", the SAFE said Thursday in a statement. Europe will remain one of its key investment markets, the regulator said.

The SAFE said China supported the measures taken by the European Union (EU) and the International Monetary Fund (IMF) to stabilize the financial markets.

"We believe, that with the concerted efforts by international community, the euro zone will definitely overcome difficulty and safeguard the stable and healthy development of the financial markets in Europe," said the statement.


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(Editor:黄蓓蓓)

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