Telegraph report

The Telegraph cites an EU diplomat who cites the latest talks with David Frost:

EU diplomat after commission briefed EU27 on talks with Frost. "The best meeting since the negotiations with Frost started but not yet the beginning of a solution. " There was serious engagement for the first time.

Asked if UK gave written proposals (oft repeated Brussels ask) diplomat said tone & substance had improved. "But because it was limited to such a small element and the UK still relies on technology that has to be developed in the future it's not even a nascent landing ground"

The pound is at 1.2460 compared to the earlier high of 1.2476.