| China's shock move to devalue the yuan is sparking fears over the country's growth outlook, but it will only have a minor affect on demand for commodities, and equity markets are "overreacting" to the move, UBS says. China's play will have a small impact on global commodity markets, UBS commodities analyst Daniel Morgan told The Australian Financial Review.
"Some people are worried that this may be a new and ongoing bearish driver for commodity markets," Mr Morgan said. "This is another bearish catalyst, but how much of commodity trade is going to contract because of this? Not much."..............................................Full Article: Source
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