Earnings week and a lot of macro announcements over the next few days, how will the FX markets respond? Saxo Bank's Head of FX Strategy, John Hardy, looks at how testimony from the Fed chair Janet Yellen may, or may not, affect USD.  John describes Mrs Yellen as an "ultra dove" and so doesn't expect any hints of hawkish moves at all to crop up during her submissions. The only opportunity John can see in terms of the Fed effect is that markets could be over-priced ahead of any fresh sense of how tapering could end.