Market Commentary: Thursday 12th June

Trade tensions are rising once again, as Trump said he will set unilateral tariff rates within two weeks. Indices, crypto, and the USD are down overall, with a gauge of the dollar sliding 0.4% to its lowest level since July 2023.

This appears to be an effort to apply urgency to the talks, as the US also engages with India and Japan to negotiate lower tariffs.

“At a certain point, we’re just going to send letters out—and I think you understand that—saying this is the deal, you can take it or leave it,” Trump added.

Tensions also flared in the Middle East, with Iran threatening to strike US bases in the region if talks over its nuclear program collapse and it is attacked. The UK Navy warned that rising tensions could impact shipping in the region.

• Spot gold rose 0.6% to $3,374.54 an ounce

• Crude fell 0.7% to $67.69 a barrel

• Bitcoin fell 1.1% to $107,730.08

• Ether fell 1.9% to $2,763.14

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