BREAKING:Trump will announce a “major trade deal” between the US&UK today

BREAKING: Donald Trump will announce a “major trade deal” between the US and UK at 3pm today

The British pound is up 0.4% against the dollar following the news

A government source has confirmed that initial reports published by The New York Times regarding a UK-US trade agreement are accurate.

According to Coates, a “heads of terms” agreement—essentially a preliminary framework—has been reached, marking what he describes as a “substantive” step toward a comprehensive trade deal.

Earlier, three sources familiar with the matter told The New York Times that the U.S. President is expected to announce on Thursday that the UK and U.S. have agreed to a trade pact.

Following the emergence of the report, the British pound rose by 0.4% against the U.S. dollar.