Breaking News: GBP/USD surges from lows on hopes DUP will support Brexit

Ahead of the UK cabinet meeting to approve the Brexit draft deal, there is a growing chorus of voices opposing the agreement. Members of the Northern Irish DUP party are hinting that they will remove support from Theresa May's government. They oppose having separate regimes for NI and for the rest of the UK. 

However, fresh reports suggest the DUP may support it.

GBP/USD was under pressure during the morning and collapsed to 1.2885 before surging to 1.2935.

-- more to come