Russia sees 'window of opportunity' to cut its holdings of US debt

Russia will reduce the proportion of U.S. Treasuries in its foreign exchange reserve, and buy International Monetary Fund bonds, in a diversification move, First Deputy Chairman Alexei Ulyukayev announced Wednesday, Reuters reported.

The dollar slipped slightly Wednesday against the world's other major currencies on word of the Russian action. The dollar traded down about one-half cent against both the euro and the British pound, to $1.4027 and $1.6356, respectively. U.S. Treasuries also fell on the news, with the 10-year bond rising five basis points to 3.92 percent.