The euro moved sharply lowervis-Ã -vis the U.S. dollar today as the single currency tested offers around the US$ 1.3755 level and was capped around the $1.4000 figure. A difficult day for U.S. equities didn€™t help the common currency€™s cause and traders also reacted to the Group of Eight finance ministers meeting in Italy over the weekend. Data released in the U.S. today saw the New York Fed€™s Empire manufacturing index decline to -9.41 in June from -4.55 in May, evidencing weak new orders and shipments sub-indices. Other data released in the U.S. today saw April net long-term TICS flows decline to US$ 11.2 billion, suggesting the U.S. did not import enough capital that month to finance its massive trade deficit. The US$ 11.2 billion print was down from the revised March figure of US$ 55.4 billion and significantly below the estimate of US$ 60.0 billion. Total net TIC flows in April came in at €US$ 53.2 billion, a dramatic swing from the US$ 25.0 billion revised print from March. Other data released today saw the June NAHB housing market index print a weaker-than-expected 15. In eurozone news, data released today confirmed that the number of people working in the eurozone declined by 1.2% in the first quarter of 2009, the largest decline since at least 1995 and the third consecutive quarterly decline in which employment fell. G8 finance ministers convened this weekend in Italy to discuss how they€™ll unwind their massive emergency spending stimuli and bank rescue fundings from the global economy. Treasury Secretary Geithner indicated the danger has not yet subsided from the global economy and is not advocating that spending be curtailed. German finance minister Steinbrueck said he €œdoes not share the excitement€ about the recent appreciation in the price of crude oil and the euro€™s exchange rate. Euro bids are cited around the US$ 1.3435 level.