UBS - "With EURUSD now perched above 1.30, we believe the Fed's latest round of easing has already made its mark on the dollar, and the scope for further dollar weakness is limited. After all, the Fed is not alone in easing policy, and US economic data continues to outperform that of the Eurozone, the UK and Japan. Diversification out of dollars by FX reserve managers also appears to have subsided - niggling doubts about the euro's long term stability have been a factor, but the shortage of investible euro-denominated assets has also played its part. With EURUSD still subject to considerable two-way headline risk however, dollar bulls should look for eventual upside against the yen and Australian dollar instead."