Australian markets dipped in early trade, while Japan's shares are headed for a higher open, as Brexit developments overnight meant the deadline for U.K. to leave the EU would likely be delayed yet again.
for reviewing legislation related to Britain's withdrawal from the European Union. It now means that the U.K. is almost certainly not going to leave the U.K. on October 31— the current deadline, and the EU may provide an extension to prevent a no-deal Brexit occurring.
In reaction, the British pound fell 0.1% versus the dollar. It fell further throughout the day — last at 1.2866, below the 1.29 level where it had been holding. "Ahead of the Brexit votes markets were essentially marking time, but reaction to the vote news now sees the pound as the big underperformer, down 0.69% relative to levels this time yesterday. But at 1.2899, is probably fair to say the market remains relatively upbeat on GBP fortunes," said Rodrigo Catril, a senior currency strategist at the National Australia Bank, in a morning note.as investors digested earnings reports.
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