Breaking News: GBP/USD rallies 80 pips (so far) on Brexit headlines

GBP/USD has been quite a show in the last few sessions and has just spiked over 70 pips on headlines that PM May seals a Brexit deal on financial services – London times reporting as well as:

Key headlines:

• Negotiators reached tentative agreement on all aspects of a future partnership on services, as well as the exchange of data - The Times
• UK PM May struck a deal with Brussels that would give UK financial services companies continued access to European markets after Brexit - The Times

GBP/USD is now at 1,2849 the high.

The move follows earlier reports that Raab was very optimistic in a letter he wrote to the Brexit committee chairman, Labour MP Hilary Benn, on 24 October, he struck an upbeat tone and said the end of the negotiations was "firmly in sight and while obstacles remain it cannot be beyond us to navigate them".