The dollar sank the most in two months as Democrats’ sweeping victory in the midterm elections fueled concern about potential political gridlock and raised the prospect of diminished spending on AI by US tech giants.

The Canadian dollar is heading for its largest monthly gain since April, supported by elevated oil prices and the Bank of Canada’s shift toward tighter monetary policy.

Barclays Plc strategists expect volatility in Group-of-10 currencies to rise and remain elevated as the dollar strengthens and interest-rate swings increase.

Hedge funds boost their bets against the euro to the most since March 2020 as political turmoil in France rattles European markets and weighs on the currency.

The Canadian dollar posted its best day in roughly four weeks and outperformed most of its Group-of-10 peers after voters in the province of Alberta rejected the idea of separating from Canada.

The dollar’s monthlong rally ran out of steam this week after remarks from Federal Reserve Chairman Kevin Warsh failed to give the currency a lift.

The dollar fell the most in more than a month, erasing gains fueled by hotter-than-expected inflation data.

The dollar rally is forging ahead as soaring oil prices weigh on currencies of energy importing nations and global inflation fears persist.

The dollar jumped Wednesday as higher oil prices and heightened tensions in the Middle East prompted investors to flock to safety.

The Trump administration pledged to send $500 each to nearly 1 million Americans it said paid too much for federally backed Obamacare health insurance, whose funding was at the center of a political standoff that led to last year’s record-long government shutdown.

Labcorp Holdings Inc. raised its outlook for the year after reporting second-quarter earnings that topped analyst estimates, citing strength in cancer tests and new genetic screenings.

The borrow-to-buy-Bitcoin model pioneered by Michael Saylor’s Strategy Inc. has spawned yet another web of startups tied to its fortunes — all of them exposed if Bitcoin falls.

Bitcoin pared losses as investors grew hopeful for a diplomatic resolution to the Middle East conflict, even as President Donald Trump’s key ceasefire deadline approaches.

Bitcoin climbed above $70,000 on Monday for the first time since March, as traders rushed to pull back bearish positions despite the lack of clarity on ceasefire negotiations in the Middle East.

Bitcoin accumulator Strategy Inc. registered a roughly $14.5 billion unrealized loss in the first quarter as the value of the Michael Saylor-led company’s cryptocurrency holdings fell.

Moving Wall Street’s trading infrastructure onto blockchain-based systems could accelerate financial crises beyond regulators’ ability to respond, even as the technology promises to cut costs and eliminate settlement delays, the International Monetary Fund says.

Republican senators on Monday unveiled a bill to stop US crypto mining companies from using equipment tied to China and other foreign adversaries.

Just days after unveiling plans to raise $42 billion to bolster its purchases of Bitcoin, Michael Saylor’s Strategy Inc. took a pause after 13 consecutive announced weekly acquisitions of the cryptocurrency.

Exchange-traded fund investors have been pulling money out of commodities products at the fastest clip on record as the conflict in the Middle East continues to rattle markets.

Michael Saylor’s Strategy Inc. is accelerating its Bitcoin accumulation plan, outlining a $42 billion capital raise that would deepen its all-in wager on the cryptocurrency.