Forex Flash: USD weighed by Fed's potential increase of QE - UBS

FXstreet.com (Córdoba) - EURUSD rose higher within ranges as Italian equity markets rebounded after strong losses on Monday, following Mario Monti's announcement resigning his post as Prime Minister. "This signaled that worries over Italy have calmed somewhat", says UBS analyst team. "Greece getting very close to its target for debt buyback also helped".

"Markets are awaiting the Fed press conference on Wednesday, in which details are expected for a potential increase of quant easing", they add. "This will hardly be a positive for the Greenback".