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What can stop the USD's march higher?

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With China cutting rates at the weekend and another rate cut by the RBA in Australia expected within twenty-four hours, the FX space is looking interesting this Monday.  Saxo Bank's Head of FX Strategy considers why USD is looking stronger, almost across the board.
EURUSD ticked up a little this Monday after some better than expected manufacturing data from Germany and figures which indicated deflation had eased a little in the euro area. However, John says there's definite softness here, not least with QE about to start and a 'natural target' is 1.10 in the coming days. Much, however, will depend on a raft of data from the US, including the nonfarm payrolls on Monday.
John also looks at USDJPY, which is heading towards 120 and also AUDUSD. If the dollar strength story is confirmed, John says we could soon see the Aussie push towards 0.75.