EU and EU negotiators have reached a draft Brexit deal in the eleventh hour of talks, although there are serious doubts that the agreement will be approved by EU lawmakers back in Westminster.

Sterling rose on the news after the UK made concessions over the Irish border, an issue that has proven to be the biggest obstacle to a deal up to this point. The pound was 0.8% higher against the dollar, at $ 1.2929, hitting a five-month high.

British Prime Minister Boris Johnson said “we have a new Brexit deal” via Twitter. He urged British lawmakers to back the deal when it is put before Parliament on Saturday.

Meanwhile, the President of the European Commission, the President of the European Commission (EC)

Discussions to hammer out a “withdrawal Agreement” that will now be put to EU leaders at their summit on Thursday and Friday, followed by HQs lawmakers over the weekend, continued until late Tuesday night and Wednesday. The EU Parliament will also have to ratify the deal at an unspecified date.

Speaking after the deal was announced, Michel Barnier, the EU’s chief Brexit negotiator, said the deal was the result of intense work from both negotiating teams. “We performed together,” he said.

Giving more details on the deal, Barnier said Northern Ireland would remain part of the country’s customs territory and would become an entry point into the EU single market. He said there would be no regulatory or customs checks at the border between the Republic of Ireland and Northern Ireland (part of the United Republic) eliminating a factor that was a key issue for both sides. He added that Northern Ireland would continue to adhere to some EU rules, particularly those relating to goods.

The deal also covers the protection of citizens ‘ rights and a transition period that will last until the end of 2020. Barnier also said the EU and UK would seek an ” ambitious free trade agreement with zero tariffs and quotas.”

British Prime Minister Boris Johnson is legally obliged to ask for an extension of The current brexit exit date of October 31 if a deal is not reached or rejected by October 19.

However, the question of whether the deal will be approved in Westminster remains in question, but opposition parties are already criticising it.

While details of the new deal remain scant, Britain’s opposition labour party said in a statement that “from what we know, it seems the Prime Minister has negotiated even worse than Theresa may, who was overwhelmingly rejected.” The pro-Remain Liberal Democrats also said they were determined to stop Brexit altogether and still advocated a second referendum. The leader of The Brexit Party, Nigel Farage, said the deal should not be supported. The Scottish National Party (SNP) has also said it will not vote for the deal.

The government’s key ally, the Northern Ireland democratic unionist party (DUP), has already responded that it cannot support the deal.

The UK government, which does not have a majority in the British Parliament, needs the support of the DUP (and votes) if it wants to be able to get a deal across the line when (and if) Parliament votes on Saturday to approve any deal.

The DUP said in a statement earlier Thursday that it’s unhappy with proposed customs and consent arrangements (designed to give Northern Ireland a say over its relationship with the EU post-Brexit) within the proposals. The DUP has repeatedly opposed any plans that would see it treated differently from the K. K. after Brexit.

British MPs have three times rejected the Brexit deal, which was visited three times by the previous Prime Minister Theresa may because of objections to the Irish “backstop” issue. This was intended to prevent a hard border on the island of Ireland if the United Kingdom and the EU cannot agree a trade agreement in the post-Brexit transition period.