The euro depreciated vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3475 level and was capped around the $1.3570 level. The common currency came off on renewed fears regarding Greece's fiscal crisis amid worries there may be insufficient political agreement to implement a financial aid package for the country. A German finance ministry official reported Germany and France agree on supporting an International Monetary Fund rescue package of Greece, a contrast with other reports that officials are far from an agreement about financial assistance. Greece needs to sell about €10 billion in new bonds in coming weeks to refinance maturing debt. Germany is also said to favour a proposal that would stiffen the penalties for European Union members that do not maintain fiscal discipline. Data to be released in the eurozone tomorrow include March PMI and January industrial new orders. EMU-16 leaders will convene this week to discuss the Greeek situation and the common currency could get a boost if a comprehensive solution is announced for Greece. Incoming ECB Vice President Constancio said a package for Greece will be a normal loan and not a bailout. In U.S. news, Chicago Fed Evans last night indicated he would not be surprised if the Fed's accommodative monetary policy remained in place through 2011, clearly putting him in the dovish camp. Atlanta Fed President Lockhart noted the U.S. has a privileged position because the dollar is the global reserve currency but warned the U.S. should not assume that will remain permanent. Many data were released in the U.S. today. February existing home sales were off 0.6% m/m to 5.02 million annualized units, a significant improvement from the prior print of -7.2%. The house price index also improved to -0.6% m/m from the revised tally of -2.0% m/m. Additionally, the March Richmond Fed manufacturing index improved to +6 from the prior reading of +2. Durable goods and new home sales data will be released tomorrow. Philadelphia Fed President Plosser called on the Fed to adopt a less discretionary rate-setting framework. Euro bids are cited around the US$ 1.3335 level.