UK Cabinet said to be told to expect backstop decision this week

Headlines from Bloomberg

• Cabinet told that backstop decision will be difficult
• Theresa May said to urge Cabinet to act in national interest on Brexit

The part on being "urged to act in national interest" basically says that they will be asked to make a decision they're not keen on making. This may allow May to get on the good books with European officials but whether or not the agreement can pass a vote in parliament will be a real challenge.

It certainly feels more and more like the pound is trading in a way such as a spring being coiled up right now, waiting on the right headlines to break out in either direction.