The pound is up 0.9 per cent today and trading at $1.2881 against the dollar amid reports that the British Prime Minister Theresa May has struck a deal with the EU that would give financial services companies in the United Kingdom continued access to European markets after Brexit.
According to a report in the Times today, the UK and EU negotiators have reached tentative agreement on all aspects of a future partnership on services, as well as the exchange of data.
The deal would give UK companies access to European markets as long as British financial regulation remained broadly aligned with the EU’s, the newspaper added.
Britain’s department for exiting the EU did not immediately comment on the report. A government source, however, commented that it was “a rather rose-tinted interpretation of where we have got to”.