Rolling coverage of the latest economic and financial news

• Trump attacks Federal Reserve
• IFO: German business confidence falters
• Oil hits three-week high as Iran tensions build
• Bitcoin rally pushes cryptocurrency over $11,000
  

2.35pm BST

Donald Trump’s tweetstorm failed to address the fact that his trade dispute with China has been weighing on markets for some time.

Rupert Thompson, head of research at Kingswood, points out that investors are hoping for a breakthrough at the G20 meeting of world leaders on Friday and Saturday.

The meeting of Presidents Xi and Trump at the G20 gathering later this week will be critical.

Most likely, Trump will back away to some extent from the sharp increase in tariffs planned for early July. But a full-blown trade deal looks very unlikely. With equities riding high, the pressure on Trump to reach an early deal has been reduced.

2.26pm BST

One of the president’s top advisors, Kellyanne Conway, has been discussing Iran at the White House:

At WH driveway gaggle, @KellyannePolls says new sanctiions against Iran are coming, yet @POTUS doesn't want war & wants Iran to come to the negotiating table. She says he won't allow Iran to engage in nuclear blackmail, disrupt global oil markets or terrorize its own people. pic.twitter.com/lebT6BnqVb

Trump official seeks to isolate Iran as Washington plans further sanctions

The US is to propose an international maritime Gulf protection force, its special envoy on Iran has said, as the Trump administration prepared to announce fresh economic sanctions on Tehran.

Brian Hook said he had been holding extensive talks with US allies in the wake of the Gulf of Oman tanker attacks, when two vessels were damaged by explosions. He believed a global coalition to protect shipping was required.

• Live updates from the 10.30am BST match at Southampton
• County cricket: all the news from around the grounds – live!
• Drop John a line | Tweet @John_Ashdown

2.25pm BST

Anyhow, thanks all for your company and comments - John Ashdown will be here presently to coax you through the chase. In the meantime, here’s something to read.

Related: When Ian Botham played king at the panto and the 1992 Cricket World Cup

2.24pm BST

Afghanistan bowled pretty well but let themselves down with their fielding, and probably lack the firepower to chase a decent total on a difficult pitch and slow outfield. If they’re going to get it, they probably need to go early, because once the fielders are back and the rate’s up, they’re in trouble.

None of the options proposed as a solution to keeping the Irish border looks workable

• Follow the day’s Brexit and Tory leadership developments
  

The question, set less by Brussels than the logic of Brexit, is how the UK government can in one move leave the European union’s single market and customs while also maintaining the flow of trade and people on its one land border with the bloc in Ireland

The fact that the existence of the land border in question cost more than 3,600 lives over 30 years led to the British government in December 2017 restating its commitment to avoid “a hard border, including any physical infrastructure or related checks and controls”.

England fans have told how they were escorted from the ground following the 3-0 defeat of Cameroon after tensions flared in the crowd.

One group of supporters, who wish to remain anonymous, told the Guardian that a set of Cameroon fans had been allowed to move from their allocated seats and gather near them. Initially the atmosphere was good.