Conservatives will tolerate a bigger cheque

According to the FT, May and her team "are working on different scenarios that would see her considerably increase the €20B she has already put on the table."

They also report that if the UK does not move on money before the end of the month, France and Germany have warned they might hold out until next year before offering assurances on transition.

The bill could increase by €30B.

This story is likely behind the jump in the pound. It hints that Britain will get a good trade deal if it pays up on the exit bill.