GLOBAL MARKETS - US Stocks Hit Record Highs, Dollar Pares Losses after CPI

GLOBAL MARKET - NEW YORK, June 12 (Reuters) - The S&P 500 and the Nasdaq scored record closing highs for the third consecutive session on Wednesday and U.S. Treasury yields pared earlier declines as investors weighed a market-pleasing inflation report against lowered interest rate cut expectations.

The dollar shed some weakness after the U.S. Federal Reserve concluded its two-day policy meeting by leaving interest rates unchanged, and released its accompanying policy statement and Summary of Economic Projections (SEP).