EU Commission President announces new Brexit deal with UK

The European Commission President, Jean-Claude Juncker, has announced a final agreement on the UK departure from the European Union, after the intensive talks last night, which comes ahead of EU leaders summit in Brussels later today.

Negotiators from the UK and the EU have reached a draft deal on the Brexit after 11 hours of intensive talks, according to Bloomberg report.

The British pound surged to a 5-month high against the US dollar at $1.2990 after this news, and prices are expected to rise further after the British government confirmed the draft deal.

The intensive talks continued from the first of this week until today's morning, and resulted in a draft deal that will be presented to EU leaders summit later today, and to the British parliament on Saturday.