Users: SaJeDoe: Japan, China to Launch Yen-Yuan Direct Trading - WSJ.com

China and Japan will start direct trading of their currencies in both markets June 1, suggesting China is looking to speed up efforts to raise its currency's profile overseas.

Direct trading between the Chinese yuan and Japanese yen is part of a broad agreement reached last year to reinforce financial ties between the world's second- and third-largest economies, and will help China's push to reduce its currency's links to the U.S. dollar.

"From June 1, the yen-yuan exchange rate will be constantly indicated in both markets, facilitating full-fledged direct exchange trading," Japanese Finance Minister Jun Azumi said Tuesday.

The move ...

China and Japan will start direct trading of their currencies in both markets June 1, suggesting China is looking to speed up efforts to raise its currency's profile overseas.

Direct trading between the Chinese yuan and Japanese yen is part of a broad agreement reached last year to reinforce financial ties between the world's second- and third-largest economies, and will help China's push to reduce its currency's links to the U.S. dollar.

"From June 1, the yen-yuan exchange rate will be constantly indicated in both markets, facilitating full-fledged direct exchange trading," Japanese Finance Minister Jun Azumi said Tuesday.

The move ...