The pound is rocketing on reports Brexit negotiators have agreed a deal

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• Pound surges higher after reports that EU and UK negotiators have agreed a Brexit deal.
• The pound is up more than 1.3% against the dollar on the day, and has climbed above the $1.30 mark.
• It is also significantly higher against the euro.
• Follow the pound's movements live at Markets Insider.

The pound is charging higher against other major currencies on Tuesday afternoon after reports that EU and UK negotiators have agreed a Brexit deal. A senior EU source confirmed those reports to Business Insider

Cabinet ministers are reportedly being briefed this evening ahead of an emergency Cabinet meeting that will take place on Wednesday, where May will aim to secure their agreement.

News of the reported agreement sent the pound - which is incredibly sensitive to Brexit developments - surging. Around 30 minutes after news first broke it is close to 1.4% higher against the dollar, breaking above the psychologically significant $1.30 mark.

The pound, which has been trading in positive territory all day, is also significantly higher against the euro, trading at €1.1539, a gain of close to 0.8%.

Markets Insider