Xinhua/Wang Ying/ Getty Images
- US stocks moved higher on Monday as the US dollar fell by the most in two weeks.
- Investors are getting more hopeful about a potential soft landing after comments from Treasury Secretary Janet Yellen.
- Ongoing progress on inflation suggests the Fed will pause its interest rate hikes later this month.
US stocks jumped on Monday, with technology stocks leading the way as the dollar fell nearly half a percent, representing its biggest decline in two weeks.
The dollar has had an outsized impact on stock prices over the past year. Stocks began to rally in late 2022 right after the US dollar started to break down, and a recent sell-off in stocks this past August was preceded by a sharp rise in the dollar.