Chinese yuan surges to three-month high on trade optimism, 'tiny' rate cut

(Reuters) - China's offshore yuan surged past 7 per dollar to four-month highs on Tuesday, benefiting from signs Beijing and Washington are approaching a trade deal and also from the Chinese central bank's decision to trim lending rates by only 5 basis points.Optimism over trade also boosted other trade-reliant currencies, such as the Australian and New Zealand dollars, which rose as much as half a percent.China is pushing U.S. President Donald Trump to remove more tariffs imposed in September..