Moves by China on Yuan are Good for Japan

China’s move to make trading of its currency more flexible was a positive step that would help buoy the country’s domestic demand, a senior Japanese government official said on Monday.

Japanese officials also said Japan has yet to pledge its contribution to the International Monetary Fund, but was still considering an increase in funding to help it deal with Europe’s debt crisis while watching the stance of other countries.

China took a key step in turning the yuan into a global currency on Saturday by doubling the size of its trading band against the dollar, pushing through a crucial reform that further liberalises its nascent financial markets.

Read the rest of the story: Japan welcomes Chinese move on yuan.

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