The European Union and Britain have allegedly reached a draft trade agreement

The European Union and Britain have allegedly reached a draft trade agreement

The European Union and Britain negotiators have allegedly reached a compromise and a draft trade agreement. They are currently working on the final text of the agreement. The agreement still needs to be approved by the British Prime Minister Boris Johnson and the Union, the Bloomberg agency said, referring to sources familiar with the matter. According to sources, this means that the agreement is not yet certain and any announcement may come in a few hours. The British pound strengthened sharply after the report, trading at $ 1.3571 at a gain of 1.6%. Johnson and European Commission Head Ursula von der Leyen have intervened and telephoned several times in recent days to reach a last-minute agreement. The transitional period during which Britain remains part of the single market and the customs union will end on 31 December.