The euro fell sharply vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3290 level and was capped around the US$ 1.3590 level. Stops were reached below the $1.3435 level as the common currency reached its lowest level this week. Italian bank Monte dei Paschi di Siena SpA sought government aid after announcing its Q4 2008 profit plunged 47%. Data released in the eurozone today saw January industrial new orders decline 3.4% while France reported its Q4 2008 gross domestic product was off 1.1% q/q and 0.9% y/y. Bank of Italy reported the EMU-16 economy contracted at a slower pace in March. Germany reported January import prices were off 0.5%. In U.S. news, traders will pay close attention to the meeting in Washington, D.C. today between President Obama and the chief executives of several financial institutions. Some U.S. banks are now trying to return the TARP funds they borrowed last year or withdrawing their TARP applications. The other big news in Washington, D.C. continues to be Treasury Secretary Geithner€™s plans to enhance regulation of derivatives and seek power to seize troubled financial institutions. Data released in the U.S. todays saw February personal spending climb +0.2% while personal income was off 0.2%. Also, the personal consumption expenditures core price index was up +0.2% m/m and 1.8% y/y. Additionally, final March University of Michigan consumer sentiment printed at 57.3, up from 56.3 at the end of February. Euro bids are cited around the US$ 1.3245 level.