ZURICH, Feb 11 - The Swiss franc eased against the dollar and euro on Wednesday after a row flared between Switzerland and the European Union over a tax accord. The dollar edged up to 1.2378/83 francs from 1.2347/52 late in Europe on Tuesday, while the euro inched up to 1.5697/03 francs from 1.5680/85. European Union finance ministers urged Berne on Tuesday to ink an agreement that would tax offshore savings as a way to catch tax cheats, but Swiss officials say they will sign only when a series of bilateral agreements with the EU is ready. "At this stage, there are still plenty of open issues surrounding the bilateral agreements with the EU," UBS said in its daily markets bulletin.
Markets were looking ahead to the U.S. Federal Reserve's Chairman Alan Greenspan's testimony on Wednesday and Thursday for clues of the Fed's latest stance on interest rate levels. Hopes centre on Greenspan clarifying providing clues about the meaning of a recent change in the Fed's wording on the timing of a potential rate hike. The Fed said late in January that it "can be patient", which appeared to dilute its previous pledge to keep rates low "for a considerable period".///