The dollar index (DXY00) Monday rose slightly by +0.15% on some short-covering after last Friday’s 2-month low. The dollar index also saw support from Monday’s +2.1 bp rise in the 10-year T-note yield, which modestly improved the dollar’s interest rate differentials. The FX markets are looking ahead to Tuesday’s U.S. CPI report, which will impact the odds of a Fed interest rate cut over the next few months. The consensus is for tomorrow’s Feb U.S. CPI to be unchanged from Jan at +3.1% y/y, which would be 0.1 point above the 2-3/4 year low of +3.0% posted in June 2023. The Feb core CPI is expec…