Flash: Bernanke again - UBS

FXstreet.com (Córdoba) - Like every week, there is some event markets try to concentrate on. This time it is Ben Bernanke's semi-annual testimony before congress, says the UBS analyst team.

"Last week's presentation by the fed chair has send the USD lower and had many investors to clear their USD long positions. Our best guess is that this week he will revert the move", UBS comments. "It is a two day event with one speech in the senate and one in the house. He certainly will have to explain, how he intends to exit QE3 and this should support the greenback".