Sterling was celebrating the headlines even before they were confirmed.
Video source: VCG
A Brexit breakthrough reportedly not just close, but actually clinched between Britain and the EU on the text of a withdrawal agreement, according to a government source.
The pound hit a seven-month peak against the euro on the report.
And the euro also gained.Though some in the markets remained doubtful.
Over whether Theresa May - fresh from declaring on Monday that negotiations were in an 'end game' - can sell a deal either to eurosceptics in her own party.
Or those 'Remainers' who want closer ties with Europe.
May's cabinet team will meet on Wednesday, the report adds, to discuss the agreement's terms.
Sterling hit a seven-month high after he European Union and Britain were reported to have agreed a draft text of a Brexit withdrawal agreement that Prime Minister Theresa May is expected to present to senior ministers on Wednesday.