Global shares rise; sterling rallies as dollar retreats

NYSE. Traders work on the floor of the New York Stock Exchange in New York City, October 14, 2022. Sterling rallies to a six-week high as Rishi Sunak becomes Britain’s prime minister, boosting investor sentiment Wall Street continued its advance on Tuesday, October 25, as weak data stoked hopes the Federal Reserve will slow its aggressive pace of interest rate hikes and European shares notched a second day of gains as better-than-expected earnings offset economic worries. Sterling rallied to a six-week high as Rishi Sunak became Britain's prime minister, boosting investor sentiment. The US dollar index fell to a three-week…