Epic Asian Markets Update

Asian shares rose and the euro hovered around multi-month highs on Wednesday as signs of progress in resolving the US “fiscal cliff” budget crisis boosted demand for riskier assets.
On Wall Street the S&P 500 rose more than 1 percent on Tuesday to notch up the index’s best two-day run in a month, on growing confidence a deal can be reached to avoid a US fiscal cliff of spending cuts and tax rises in January.
The euro was steady around USD 1.3226, just shy of its highest since May, and against the yen it fetched 111.53, having risen as far as 111.60, its highest since late August 2011.

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