Aussie shares hit three-month high, CBA at new peak

The Commonwealth Bank has notched a new all-time high of $176.46.

The world's most expensive bank stock has surged more than 24 per cent from early April's lows, outperforming the top-200 index, which is up 14.5 per cent from its April 7 close.

The Australian dollar is buying 64.52 US cents, up from 64.10 at Tuesday's ASX close, with the greenback lower against most major currencies.