Middle East Turmoil, Bitcoin Price Drops to US$103 Thousand
Iran launched a retaliatory attack this morning, Friday (13/06), after Israel struck the Natanz nuclear facility in Tehran, Iran. This caused crude oil prices to rise by 6% and Bitcoin prices to drop to US$103 thousand after previously reaching US$109 thousand.
This turmoil also pushed gold up to US$3,400 per ounce as NASDAQ 100 futures contracts continued to fall by 2%. The Taiwan dollar strengthened even though its stocks, Taiex, are now down more than 1%.
“This could increase the flow of funds into safe-haven currencies like the yen and potentially floating currencies that are major oil producers like the Norwegian Krone,” said Nomura Singapore Ltd. Head of Global Market Research Robert Subbaraman.
