The market seems convinced that no matter what upcoming data will show the US Federal Reserve will remain dovish. And that is set to drive the dollar lower against other major currencies, says Saxo Bank’s John Hardy.

He looks at how the greenback is trading against the yen and the euro and also takes a look at the next big levels for these pairs. Finally, Hardy explores the market’s reaction to the unexpected rate cut by the Reserve Bank of Australia and he explains why the Aussie dollar could rise against the US dollar.

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