UBS - "The dollar has fallen to four month lows below 1.31 against the euro following the Fed's decision to a start a third round of quantitative easing. In anticipation of the Fed's announcement, we had lowered our shorter-term forecasts for EURUSD to 1.30 (1m) and 1.25 (3m) early last week. However, how weak the dollar trades over the next few weeks will also depend on the actions of other central banks, which we think are likely to engage in further easing measures as well. That should also limit near term dollar weakness, especially as the greenback has already sold off by around 8% against the rest of the major currencies since July. We thus remain cautious about chasing the dollar from current levels."