Foreign governments are sharply reducing their U.S. Treasury debt holdings as the Middle East conflict pressures currencies across Asia. Most notably, China cut its Treasury holdings to $652.3 billion in March, down about 6% from February, according to U.S. Treasury data Finbold analyzed on May 20. The cut marked the country’s lowest level of U.S. debt ownership since September 2008, when the global economy had nearly collapsed. [...]