London Gains First-Mover Advantage in EU’s Yuan Race

London Gains First-Mover Advantage in EU’s Yuan Race

Simon Dawson/Bloomberg

A lion motif decorates a metal panel outside the Bank of England in London. Bank of England Governor Mervyn King and his Chinese counterpart Zhou Xiaochuan met in Beijing last month and plan to sign a yuan-sterling swap shortly, the U.K. central bank said in a Feb. 22 statement.