The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3675 level and was supported around the $1.3545 level. The common currency has traded in about a 400-pip range for the past month or so as traders continue to deliberate the prospects of a larger credit crisis in the eurozone. There has been less attention on Greece's fiscal problems over the last several trading sessions and many dealers are speculating the country will be successful in resolving its financial imbalances. Others, however, believe Greece, France, the European Union, or the International Monetary Fund will have to get involved in bailing out Greece. Data released in the eurozone today saw the German January trade surplus decline to €8.7 billion from €16.6 billion in December. Also, German February consumer price inflation expanded 0.4% m/m and 0.6% y/y. European Central Bank member Weber - likely the next President of the ECB after Trichet retires - continues to resist calls for the creation of a European Monetary Fund to provide countries with financial assistance during times of crisis. Many German officials believe their eurozone partners need to be more vigilant with national finances and avoid fiscal crises such as the one Greece is currently experiencing. In U.S. news, data released today saw MBA mortgage applications print at 0.5%, down from a revised 14.6%, while January wholesale inventories were off 0.2%, up from a downwardly revised -1.0% in December. Also, the February monthly budget statement printed at -US$ 220.9 billion, wider than the previous reading of -US$ 193.9 billion. Tomorrow's data will include weekly initial jobless claims, continuing jobless claims, and January trade balance data. Friday's data will include February retail sales, March University of Michigan consumer sentiment, and January business inventories. Euro bids are cited around the US$ 1.3335 level.