Global stocks rise, dollar gains as UK inflation bolsters sentiment

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Global stocks rose and the dollar strengthened on Wednesday after a surprise cooling of British inflation bolstered the risk-off sentiment across markets that anticipate the Federal Reserve next week to hike interest rates for the last time.

falling more than expected in June to its slowest pace in more than a year at 7.9%. The reading sent the pound sharply lower against other major currencies.Gold prices hovered near an eight-week peak hit on Tuesday and oil prices gained more than 1% on expectations that the Fed will have finished its most aggressive rate-hiking in more than four decades when it concludes a two-day meeting on July 26.

Stocks on Wall Street rose as investors looked past poor second-quarter earnings from Goldman Sachs to take comfort in strong profits from smaller players in the banking sector. The KBW bank index

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