Dollar Drops Most in Three Weeks as Fed Gets Subpoenas

The dollar declined the most in almost three weeks as the Federal Reserve faced grand jury subpoenas from the Justice Department, reviving concerns over political interference in monetary policy.

The Bloomberg Dollar Spot Index fell 0.3% on Monday, set for its biggest drop since Dec. 23. That’s after Fed Chair Jerome Powell revealed the central bank had been served grand jury subpoenas, threatening a criminal indictment tied to his June testimony on headquarter renovations.