Japanese Yen Could Gain as China Ponders New Economic Controls

The September Japanese Yen cleared an important technical hurdle overnight and is now in a position to challenge the July top at 1.0909.

Japanese investors have been repatriating funds invested in China on speculation that the Chinese financial officials will attempt to curb reckless lending practices in the country.  Funds are being moved out of China for safety reasons as investors feel new Chinese practices will slowdown the pace of growth.  With their investments at risk, Japanese investors are seeking the safety of the Japanese Yen.

Read full article at FuturesHound.com