Westpac - "All bets are off if the Fed declines to announce QE3 but if our long-standing call is correct, risk currencies should be well supported into Oct. The ECB and German court decisions add weight to the rally (...) Fed easing and resilient risk appetite should chip away at USD. A lull in China worries combines with expected Fed QE to support AUD/USD towards 1.0550/1.0600 and NZD/USD 0.8320 initially. QE3 is no repeat of QE2, with Asian growth faltering, keeping CBs leaning to easing. While USD/Asia risks are to the downside, we prefer intra-Asia trades, long MYR and INR vs pricey PHP."