Nation retakes top spot in US treasuries

China has reclaimed the position as the biggest foreign holder of US sovereign debt after boosting its holding for a fifth consecutive month with a strengthened yuan and eased capital outflow pressures.

The country purchased $44.3 billion of US treasury bonds in June, the most in six years, bringing its total holding to $1.147 trillion, according to data released on Tuesday by the US Treasury Department.

China ceded the position to Japan as the biggest foreign lender to the US government last October as the country had spent a portion of its massive foreign exchange reserves to stem the depreciation of the yuan and to curb capital outflows.