This week, we’ve seen USD generally weak but the currency is heading into some key support levels, he adds.

At the end of the week we saw the Bank of Japan buying five- to 10-year JGBs to underline its commitment to the yield-curve control policy, says Hardy.

The dollar will stand or fall next week with the ISMs, the nonfarm payrolls report, and the Federal Open Market Committee meeting. Strong data will make US yields go higher, and the FOMC may be a tipoff meeting for a March hike, says Hardy.

The dollar, Hardy concludes, needs to pick up broad support if we are going to see it higher.