Forex Flash: Bernanke to correct the early-end-to-QE3 FOMC reading - BBH (San Francisco) - Ben Bernanke is scheduled to speak in his semi-annual testimony on Tuesday and Wednesday. BBH expects him to address recent hawkish reading of the latest FOMC minutes. The BBH Global Currency Strategy Team expects Bernie "to help 'correct' the reading of the recent FOMC minutes that some observers seemed to understand somewhat hawkishly, expecting an early end to QE3."

According to the BBH team, "iIt was only in December that Bernanke led the FOMC to more than doubling its outright long-term asset purchases.," so the possibilities to finish the QE program are reduced. "With economic growth slowing below the pace needed to lower the unemployment rate, we see little reason to expect a change of heart," points the bank.

" A few regional presidents disagree, but they are a minority at the Federal Reserve and especially among the voting members of the FOMC," concludes BBH.