The dollar index (DXY00) today is down by -0.08% as strength in stocks has reduced liquidity demand for the dollar. Also, a decline in T-note yields today is weighing on the dollar. The markets are discounting the chances for a -25 bp rate cut at 5% for the July 30-31 FOMC meeting and 75% for the following meeting on Sep 17-18. EUR/USD ([^EURUSD](https://www.barchart.com/forex/quotes/%5EEURUSD/overview)) today is up by +0.09%. The euro is finding support today from a weaker dollar. Gains in EUR/USD are limited by lower government bond yields that weaken the euro’s interest rate differentials a…