China lowers yuan rate by most in three months

China’s central bank cut its exchange rate for the yuan currency against the US dollar by the largest amount in three months Thursday as the greenback strengthened on improved Chinese trade data. The People's Bank of China (PBoC) set the yuan at 6.4891 to the dollar, down 0.46 percent from Wednesday's fix, according to the China Foreign Exchange Trade System, marking the biggest one-day drop since January. The dollar rose after China released data Wednesday showing exports surged more than