From Yahoo Finance: 2025-06-12 13:17:00

Britain’s FTSE 100 hits record high as investors seek refuge from America’s market slump. The index closed at 8,834.92 points, up 0.2pc, beating the S&P 500’s 2.7pc rise. Dollar hits three-year low as Trump’s trade policies spark fears, with pound soaring to $1.36 and euro to $1.16.

Trump’s mixed signals on trade send dollar tumbling to a three-year low, down nearly 10pc this year. President talks up US-China trade deal prospects, stating on Truth Social platform, “THE CHINA DEAL IS GREAT!” and praising President Xi.

Trump’s tariff threat affects markets, with UK exports to US plunging by £2bn after April tariffs were imposed. UK manufacturing output falls by 0.9pc in April despite efforts to get ahead of higher import taxes. Wholesale inflation in US rises by 2.6pc in May.

Investors turn away from the dollar as Trump’s trade policies cause concern. FTSE 100 hits record high as US market slumps. Trump talks up US-China trade deal prospects. UK exports to US plunge after tariffs. UK manufacturing output falls by 0.9pc. US wholesale inflation rises by 2.6pc in May.

Read more: FTSE 100 closes at record high as Trump’s tariffs shake faith in US