Asian shares took off on Wednesday and sterling held near six-month highs as Britain and the EU made headway on a Brexit deal ahead of a leaders' summit though it remained unclear if London could avoid postponing its scheduled departure on Oct. 31.
The British pound rocketed to $1.28, a level not seen since May 21. It gave back some of those gains on Wednesday to be last at $1.2759. The pound has strengthened nearly 5% over the past week as investors rushed to reprice the prospect of a last-minute Brexit deal before the end-October deadline.
The positive sentiment extended on Wednesday with MSCI's broadest index of Asia-Pacific shares outside Japan lifting 0.3%.
Japan's Nikkei .N225 jumped 1.7% while Australian shares added 0.9% and South Korea's KOSPI index .KS11 climbed 0.7%.
Source : Reuters