The U.S. dollar rose broadly Tuesday and notched a seven-month high against the yen while the yuan slipped after China cut two benchmark lending interest rates.
, as authorities seek to shore up a slowing recovery in the world's second-largest economy.
"The extent of the lowering — we're talking basis points, not percentages, so it's not really going to move the dial," said Rodrigo Catril, senior currency strategist at National Australia Bank, or NAB. Elsewhere, the U.S. dollar edged marginally higher in cautious trade after a holiday in the United States on Monday kept market activity muted.in early Asia trade, its highest since November, following the Bank of Japan's decision on Friday to maintain its ultra-easy monetary policy.
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