FXstreet.com (Barcelona) - The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.2540 level and was capped around the $1.2675 level.

Federal Reserve Chairman Bernanke testified today and said the Obama budget plan is an ambitious agenda. U.S. equity markets opened to the high side and then faded back to the minus side during Bernanke's question-and-answer session. Traders are already speculating that Friday's U.S. February non-farm payrolls number is going to be horrendous.

In eurozone news - as GCI Financial Team said- many traders expect the European Central Bank will ease interest rates by 50bps on Thursday. European Union official Alumnia reported the EU will consider assembling a second fiscal stimulus for the region.

Euro bids are cited around the US$ 1.2475 level.