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The dollar index (DXY00) on Monday was little changed. The dollar saw support from hawkish comments on Saturday from Fed Governor Bowman but was undercut by the -3 bp decline in the 10-year T-note yield. Meanwhile, the yen saw weakness after a former BOJ member predicted the BOJ won’t be able to raise interest rates again this year. On Saturday, Fed Governor Bowman said, “The progress in lowering inflation during May and June is a welcome development, but inflation is still uncomfortably above the FOMC’s 2% goal.” The markets are discounting the chances at 100% for a -25 bp rate cut at the Sep…

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