Access to European markets will continue as long as regulations are broadly aligned

The pound jumped this morning after The Times revealed that Theresa May has struck a deal with Brussels that would give UK financial services companies continued access to European markets after Brexit.

British and European negotiators have reached a tentative agreement on all aspects of a future partnership on services, as well as the exchange of data, government sources said.

Markets reacted bullishly this morning to the prospect of a deal which would minimise disruption to the City of London, with the pound up more than 1 per cent to over $1.29, its highest value in six sessions, and a 1.7 per cent gain over two days.

It is the latest sign of optimism that a wider deal is close to being finalised, Dominic