LONDON, June 19 - Global stocks hit record highs on Wednesday, driven by a rally in tech shares that has made AI chipmaker Nvidia , opens new tab the world's most valuable company, while the dollar stalled as soft U.S. retail sales data suggested rates could fall this year.
The pound rose after data earlier showed British inflation returned to the Bank of England's 2% target in May for the first time since 2021. Sterling , which is down around 0.2% so far this month, last fetched $1.2728, up 0.2%, while the euro inched up 0.1% to $1.0749, but was still down 1% in June. Last week, mild U.S. inflation readings contrasted with an overall hawkish stance by Fed officials, who trimmed their previous median projection for three quarter-point rate cuts this year to one.
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