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Hardy: USD flexes its muscles

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Saxo's head of FX strategy, John Hardy, says US dollar strength is broadening, despite the USDJPY situation. In this video, he looks at the key data events this week and in particular Tuesday's US retail sales report. He says it's crucial to see that US consumption is picking up.

Hardy also looks forward to Wednesday's ECB meeting and the impact on EURUSD. He says it's difficult to see if it is a big event risk so it's best to look at it from a technical perspective. Is the 1.05 area going to stick, he asks, or will the dollar continue to power lower after the meeting?