The euro came off vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3380 level and was supported around the US$ 1.3125 level. The common currency rocketed higher after it was reported the Obama administrations is said to be pushing General Motors into bankruptcy with 1 June as a likely deadline for preparing their legal filing. General Motors is attempting to reach an agreement with bondholders to exchange about US$ 28 billion in debt into equity and to get necessary concessions from the United Auto Workers union. Bankruptcy fears escalated and U.S. equity markets weakened on the news, taking the greeback lower. Traders are poised for this week€™s first quarter earnings reports from major U.S. banks including Goldman Sachs which is poised to issue earnings data tomorrow. Some dealers believe U.S. equity markets may benefit even if earnings are not very strong because they believe the worst of the bad news may already be priced into the market. President Obama will speak tomorrow on the economy and Federal Reserve Chairman Bernanke is scheduled to speak tomorrow and Friday. In eurozone news, most major European financial markets were closed on account of the Easter Monday holiday. Euro bids are cited around the US$ 1.3100 figure.