Dollar buoyant; yuan wobbles after China cuts lending benchmarks

SINGAPORE, June 20 (Reuters) – The U.S. dollar rose broadly on Tuesday and notched a seven-month high against the yen, while the yuan slipped after China cut two benchmark lending interest rates for the first time in 10 months. China on Tuesday lowered its one-year and five-year loan prime rates (LPR) by 10 basis points, as widely expected, as authorities seek to shore up a slowing recovery in the world’s second-largest economy. The offshore yuan dipped slightly following the decision and was down more than 0.1% at 7.1734 per dollar, languishing near last week’s roughly seven-month low. “The extent of…