Flash: Bernanke does not pre-commit - UBS

FXstreet.com (Córdoba) - Fed President Ben Bernanke confirmed at the testimony to the House Committee on Financial Services that the Fed has all options open, according to the UBS analyst team.

USD appreciation remains main scenario

"Tapering will come when the economy improves. Currently it is too early. However, should financial conditions worsen, the Fed could also increase asset purchases", UBS says. "Nevertheless, financial markets consolidated recent moves, which means US interest rates dropped and the USD appreciated slightly. USD appreciation within ranges remains our main scenario".