At least nine members of Congress sold banking stocks before and during the market turmoil in March, the Financial Times reported. Josh Gottheimer, a New Jersey Democrat and member of the financial services committee, disclosed a March 9 sale of shares in Silicon Valley Bank valued at between $1,000 and $15,000, the newspaper said. SVB collapsed the following day, sending US banking stocks plummeting. Gottheimer also reported sales made on March 6 and March 14 of shares in Charles Schwab...

Traders looking to short the dollar have history and monetary policy on their side as seasonal trends and a dovish Federal Reserve align, further sapping demand for a currency that's fallen almost every day this month. The Bloomberg Dollar Spot Index has dropped in June in eight of the last 10 years by an average of roughly 0.7%. This month it is already down 2.3% ahead of the Fed's decision Wednesday, when policymakers are expected to reiterate a commitment to buoy the economy. The index's...

SHARE THIS ARTICLE Share Tweet Post Email Photographer: Akos Stiller/Bloomberg Gold futures climbed above $1,300 an ounce for the first time in six weeks as the dollar wavered and investors braced for an onslaught of economic data and political news. Bullion rose for the third time in four days as a gauge of the dollar traded close to the lowest since September. A report later this week is forecast to show the Fed’s preferred gauge of inflation slowed in October, after Chair Janet Yellen...

Photographer: Brent Lewin Bad news for the Canadian dollar is piling up with strategists seeing no end in sight. The loonie fell to a four-year low versus the dollar and posted it’s biggest one-day drop in 10 years this week. And that volatility should continue, according to TD Securities, amid the uncertainty of the coronavirus outbreak and now that Saudi Arabia and Russia are in an all-out output war that’s collapsed oil prices. “The coronavirus outbreak plus the new oil shock throws a...

The dollar is headed for its best week since the financial crisis, fueled by a rebound in investor appetite for riskier assets and a desire by companies and others to park funds in the world’s favored reserve currency. The Bloomberg dollar index is up 3.4% on the week, the biggest surge since 2008, taking it to the highest in almost three years. The greenback extended gains as central banks and governments moved to cushion the global economy from the damage of the coronavirus. The Federal...