Global stocks have lifted following the Federal Reserve's quarter-point rate cut. Photo: AP PHOTO

Asian stocks and the US dollar nudged higher on Thursday after the US Federal Reserve's first interest rate cut of the year, while French politics kept its markets jittery and the pound held its ground ahead of a Bank of England rate decision.

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The Fed's steady-as-she-goes-message from what had been a politically charged meeting lifted both the pan-European STOXX 600 and Wall Street futures 0.5%, despite an initially mixed reaction from US traders on Wednesday.

In Asia markets rallied w

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