FX.co ★ Fundamental Analysis, for September 14, 2012

The Federal Reserve announced a new plan in order to stimulate the U.S. economy at the meeting that ended on Thursday.
This plan involves the purchase of mortgage assets by 40 billion dollars every month, a cash injection that anticipates major dollar devaluation on all fronts which actually happened on currency market on the eve.
The U.S. currency reached multi-month lows against major currencies in the terms of the moves that even extended to these hours prior to Friday's U.S. session.
The euro, thus, overcame just the level of 1.31 and the pound is far from 1.62, the area we had seen as the main goal for this week.
The yen reached the maximum of more than one year late on Thursday, but fell rapidly during the Asian session, and approached to 78 units per dollar for the second time during the day.
The Swiss franc rose more slowly than other leading currencies. It’s trading range of 1.20 against the euro has been left out, and now the franc is heading towards 1.21 which means that the euro has strengthened against the dollar at a much faster speed than the Swiss currency.
In its turn, Dow Jones index is still above records of almost four years. On Thursday it closed at 13539.86 points, and now maintains a very strong uptrend on the short-term charts.
What might happen on Friday's session? In either case it will change the landscape. European currencies maintain a strong uptrend, even with the expected corrections. But dollar’s sentiment has turned bearish and will change neither in the next few hours, nor in the coming days.
Just some decisions regarding the crisis in the European countries could change the situation (weak dollar).