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Hardy: Why I'm looking for a USD rally

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Saxo's John Hardy believes the market reacted complacently to last week's FOMC meeting. He says the dollar will be highly sensitive to any data surprises this week, especially positive ones.

The Reserve Bank of Australia meets on Tuesday (overnight GMT) and many are betting on a rate cut of 25 basis points. Hardy says he expects a dovish stance and more downward pressure on AUD.

There are rumours that the Swiss National Bank is targeting 1.05-1.10. He says 1.0500 could now be a psychological support.

And what has been the market reaction to the war of words between the ECB and Greece? Hardy says it's so far been contained.