Yuan Trades in Tokyo May Tighten Currency Knot

(Beijing) – Tokyo may become the next financial center outside mainland China offering "offshore" yuan businesses as part of the Chinese government's push to globalize its currency.
 
A source close to the Japanese government told Caixin that Japan is pursuing plans to establish an offshore yuan market following its latest agreement with China allowing the Japanese yen and Chinese yuan to directly set exchange rates against each other. The agreement took effect June 1.