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Hardy: EURUSD will be weighed down by US data this week

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With a busy, busy week ahead for US and European data, Saxo Bank's Head of FX Strategy John Hardy analyses possible moves in EURUSD, given that the pair has recently appeared paused around the 1.12 level. 

John assesses the risks from the flow of data expected this week, including the Fed's preferred inflation data https://www.tradingfloor.com/calendar.     

Plus with USD upside expected to be a key theme, John assesses the pressures on other major pairs, notably USDJPY.