Reuters: US Dollar Report: Japan, China to launch direct yen-yuan trade on June 1 -Azumi

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Japan, China to launch direct yen-yuan trade on June 1 -Azumi May 28th 2012, 23:48 TOKYO | Mon May 28, 2012 7:48pm EDT TOKYO May 29 (Reuters) - Japan and China will launch direct yen-yuan trade in the Tokyo and Shanghai markets from June 1, Japanese Finance Minister Jun Azumi said on Tuesday. Direct trade of the two currencies, without interim exchange into dollars, has been anticipated as a means of facilitating trade and financial transactions between Asia's two largest economies.

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