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(From BBC Monitoring International Reports)
Text of report in English by Japanese news agency Kyodo
Tokyo, 21 July: The Japanese government on Thursday [21 July] welcomed China's effective revaluation of its currency, the yuan, as the first step towards further integrating its economy into the world economy with greater flexibility in exchange rates.
Finance Minister Sadakazu Tanigaki said the government welcomes China's move to stop pegging the yuan to the US dollar, and said, "We have to carefully watch its effects as we think flexible yuan rates will benefit not only China but also Japan and the global economy."
Japan will monitor …