NEW YORK, July 23 (Xinhua) -- The dollar rose against most major currencies on Wednesday as oil prices slid and U.S. stocks rose for the second straight session.

    Oil prices continued falling on Wednesday on growing fears that high prices and the weak economy are destroying demand. It was also hit by a government report showing that U.S. gasoline stockpiles rose far more than expected last week.

    Light sweet crude for September delivery fell by 3.98 dollars to close at 124.44 dollars a barrel on the New York Mercantile Exchange, the lowest of crude oil finish since early June.

    The dollar was mostly higher as oil prices fell and Wall Street advanced. But it fell against the British pound as investors cut expectations of a rate hike from Bank of England.

    Policymakers of the British central bank were split three ways when they left interest rates unchanged earlier this month, according to the minutes of the latest meeting released Wednesday.

    The euro bought 1.5681 dollars in late New York trading compared with 1.5788 dollars it bought late Tuesday. The British pound rose to 1.9976 dollars from 1.9920 dollars.

    The dollar rose to 1.0390 Swiss francs from 1.0305 Swiss francs, and rose to 107.93 Japanese yen from 107.21 Japanese yen. It rose to 1.0107 Canadian dollars from 1.0084 Canadian dollars.