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Another step on the road to loss of exclusive reserve currency status... and Japan becoming a province of China...
Currently, interbank trading between the U.S. dollar and the yuan accounts for 99.3 percent of the Shanghai foreign exchange market, while the yen-yuan trading accounts only for 0.09 percent.
Japan and China will start direct trading between the yen and the yuan on the inter-bank foreign exchange markets in Tokyo and Shanghai on Friday, Finance Minister Jun Azumi said Tuesday.
http://www.yomiuri.co.jp/dy/business/T120529004757.htm
Currently, interbank trading between the U.S. dollar and the yuan accounts for 99.3 percent of the Shanghai foreign exchange market, while the yen-yuan trading accounts only for 0.09 percent.
Japan and China will start direct trading between the yen and the yuan on the inter-bank foreign exchange markets in Tokyo and Shanghai on Friday, Finance Minister Jun Azumi said Tuesday.
http://www.yomiuri.co.jp/dy/business/T120529004757.htm