The Bank of Tokyo-Mitsubishi UFJ becomes more downcast on USD after the Fed's announcement Thursday that it will undertake more monetary stimulus measures. USD weakened sharply across the board as a result of the Fed's move and cleared the way for EUR to push through the 1.30 level for the first time since May 9. The bank says the commitment to low interest rates until mid-2015 and the readiness to undertake additional asset purchases if the economy requires it should keep the buck under pressure in the coming year. "In these circumstances, the US dollar will likely prove weaker than we had anticipated over the twelve-month forecast period," the bank adds. EUR/USD is at 1.3025 and USD/JPY is at 77.71.
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