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Japan and China will promote direct trading of yen and yuan without using dollars, Japan said...

Japan and China will promote direct trading of yen and yuan without using dollars, Japan said today, and will encourage the development of a market for the exchange to cut the cost for companies. It's part of a broad and innovative package of financial agreements designed to tighten ties between the two giants.
Comments (4)
  • Teutonic Knight
    , contributor
    Comments (2061) | Send Message
     
    Smart move, very strategic, cutting out the middle man reserve currency.
    25 Dec 2011, 01:18 PM Reply Like
  • surfgeezer
    , contributor
    Comments (7118) | Send Message
     
    Bout time. Means China's currency will be that much closer to floating with the other majors.
    26 Dec 2011, 01:55 AM Reply Like
  • tripleblack
    , contributor
    Comments (13542) | Send Message
     
    This will make it more difficult for China to manipulate the yen. I am not certain that it will have much positive effect on the RMB $peg.
    26 Dec 2011, 11:40 AM Reply Like
  • surfgeezer
    , contributor
    Comments (7118) | Send Message
     
    Should, as they are the same thing. Japan's realizing buying our debt for good US prices on their exports does not help them in China's market, that is also huge to them for both supply chain and future consumers sales. Japan doing the same with India.
    27 Dec 2011, 01:03 PM Reply Like
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