The dollar index (DXY00) today is down by -0.03% and posted a new 7-1/2 month low. Strength in stocks today has reduced liquidity demand for the dollar. Also, speculation that the US Bureau of Labor Statistics will revise US payroll growth lower today is undercutting the dollar. The markets are discounting the chances at 100% for a -25 bp rate cut at the Sep 17-18 FOMC meeting and at 34% for a -50 bp rate cut at that meeting. EUR/USD ([^EURUSD](https://www.barchart.com/forex/quotes/%5EEURUSD/overview)) today is down by -0.09%. The euro today fell back from a 7-1/2 month high and is slightly lo…