Asia set to surge on trade hopes, pound jumps on exit polls

Asian share markets were looking to steam higher on Friday amid reports a last-gasp trade deal had been struck that would avert new U.S. tariffs on China, while Prime Minister Boris Johnson's Conservative Party looked to have won a clear majority in the UK elections. Sterling surged 2.3% in early Asian trade to $1.3467 to hit its highest since mid-2018, and reached levels on the euro not visited since mid-2016. A wave of trade relief overnight had already lifted Wall Street to record highs while hammering safe-haven sovereign bonds and the Japanese yen.

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