⁍ The dollar pulled back from a two-month high against a basket of currencies on Monday.

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⁍ Signs of a slowdown in the nascent recovery from the pandemic and political uncertainties have kept investors on the defensive.

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⁍ Major indexes on Wall Street were up more than 1% as stocks bounced after four straight weeks of declines.

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– The dollar pulled back from a two-month high against a basket of currencies on Monday as equities rallied after four straight weeks of declines ahead of a slew of economic data and political developments in the United States. A rebound in US stocks at the end of last week helped slow the climb of the dollar, considered a safe haven, but signs of a slowdown in the nascent recovery from the pandemic and political uncertainties have kept investors on the defensive, Reuters reports. Major indexes on Wall Street were up more than 1% as stocks bounced after four straight weeks of declines. On Sunday, US House Speaker Nancy Pelosi said she thought a deal could be reached with the White House on a fresh coronavirus relief package as talks continued. “Unless the labor market has a really terrible number this week, if it is steady we might not get stimulus until after the election so I don’t think anyone is holding their breath on that right now,” said Edward Moya, senior market analyst at OANDA in New York. “If the stocks are rising, in this current time you can’t have a stronger dollar and that is going to continue to be the case but you are going to see choppy trade this week.”