Uncertainties from the stock market selloff and weakening growth in July will likely lead Chinese policymakers to maintain fiscal loosening, says UBS. Consequently, it is revising upwards its 12-month USDCNY forecast to 6.60, while amending downwards its MSCI China earnings growth forecast to a high single-digit range. After last Tuesday’s surprise move to devalue the yuan against the greenback by 1.9%…
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