The euro moved sharply higher vis-Ã -vis the U.S. dollar today as the single currency tested bids around the US$ 1.4100 figure and was supported around the $1.3850 level. The big story in the markets today was a decision by the U.S. Treasury that allows several U.S. banks to repay funds they borrowed under the Troubled Asset Relief Program that was inaugurated last year. Ten banks will be permitted to repay tens of billions of borrowed funds and try to return to some semblance of normalcy. The Federal Reserve has reportedly for now shelved a plan that would have potentially allowed it to issue its own debt to help absorb some inflationary pressures and drain liquidity. New York Federal Reserve Bank President Dudley recently said the power to issue debt would be €œnice to have, but not critical.€ Data released in the U.S. today saw April wholesale inventories off 1.4%. In eurozone news, European Central Bank member Noyer said it is premature to determine if the ECB€™s unconventional monetary policy measures enacted to stabilize the financial markets have been an overall success, but noted they €œhave contributed to a significant reduction in various credit risk premia.€ Data released in Germany today saw April industrial production fall 1.9% m/m, worse-than-expected. These data suggest the eurozone€™s largest economy is a laggard as far as the gradual, nascent economic recovery on the Continent is concerned. Euro bids are cited around the US$ 1.3435 level.