London's FTSE 100 dips as sterling strengthens amid Trump-Powell tensions
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London's FTSE 100 dipped 0.1% as a stronger sterling impacted the export-heavy index amid tensions between President Trump and Fed Chair Powell. Banking stocks fell after Trump's proposal for a credit card interest rate cap, with Barclays down 3.3%. Gold prices reached a record high, prompting investors to seek safe-haven assets. The UK job market showed signs of cooling, adding pressure on the Bank of England. Notably, IQE's shares surged 34.6% after positive revenue forecasts, while Oxford Nanopore Technologies rose 7% on expected annual growth.
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