Japan and China to start direct currency trading on Friday

CriticalSilver · May 31, 2012

Picked up from rense.com, this article from Japan Today

Japan and China will start direct currency trading this week, Tokyo said Tuesday, the first time Beijing has let a major unit other than the dollar swap with the yuan.

The move, which will scrap the greenback as an intermediary unit, comes as China introduces measures as part of a long-term goal of internationalizing its currency to rival the dollar.

The two-way trade will also be allowed to move in a wider range than the narrow band at which the dollar and yuan change hands, Dow Jones Newswires and the Nikkei business daily reported.

Read more: http://www.japantoday.com/smartphon...na-to-start-direct-currency-trading-on-friday
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Japan and China to start direct currency trading on Friday

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Japan and China to start direct currency trading on Friday

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