Japan welcomes China yuan decision

Japan welcomed China's decision Thursday 21 July to end its currency's peg to the U.S. dollar and other Asian officials said they were closely watching developments.

Japan's central bank issued a statement praising the move as part of China's efforts to make its currency more flexible and responsive to the free market.

"We hope that this decision will lead to more balanced and stable economic growth for China," the Bank of Japan's international department said in a statement. "We highly value t