Yuan Devaluation Adds to Commodities Gloom

Another great game is certainly afoot in global financial markets, and China has announced its presence with authority. The bout, of course, is the currency war.
On August 11, China devalued its currency by the largest amount in one day since 1993. By doing so, it joined a phalanx of countries around the world that have actively depreciated their currencies against the U.S. dollar.
Markets have been roiling ever since. This is especially true for commodities, which are already in a weakened position.
But all the drama seems to be a bit of an overreaction. (more)