The euro appreciated vis-à-vis the U.S. dollar today as the single currency tested offers around the US$ 1.3405 level and was supported around the $1.3265 level. The common currency has been quite volatile for weeks on account of uncertainty regarding financial assistance for Greece. Ecofin ministers convened last night and today and an aid package for Greece was formally agreed to involving both financial assistance from the European Union via bilateral loans and the International Monetary Fund. Late last night, European Central Bank President Trichet said IMF involvement would be very, very bad whereas today he indicated he was happy with the results. Greek Prime Minister Papandreou reported Greece will sell more debt at an opportune time. The Greek aid package was structured so that Greece can tap the credit facilities if required but it is possible that Greece may never need to utilize these facilities. Achieving a European consensus on this issue was difficult but was facilitated by agreement between Germany and France. Attention will now shift to fiscal woes in Portugal, Spain, and Italy. Data released in France today saw March consumer confidence worsen to -34 from the prior reading of -33. In U.S. news, data released today saw revised Q4 gross domestic product print at +5.6% from the prior reading of +5.9% while the GDP price index ticked higher to +0.5% from +0.4%. Also, the Q4 core personal consumption expenditures index increased 1.8% q/q from the prior reading of +1.6% q/q. Final March University of Michigan consumer sentiment printed at 73.6, up from the prior reading of 72.5. Personal income and spending data and PCE numbers will be released on Monday. Traders are paying very close attention to rising U.S. Treasury yields. The 10-year Note is now yielding right around the 3.90% level and some economists believe the rate will move significantly higher to the 4.30% level. The Federal Reserve will continue to normalize monetary policy in the coming quarters. Fed Chairman Bernanke yesterday reported restoring the size and composition of the Fed's record US$ 2.32 trillion balance sheet to a more normal configuration is a long-term policy goal. Similarly, St. Louis Fed President Bullard added We want to someday get back to a pre-crisis balance sheet - both the size of it and the fact that it would be an all-Treasuries balance sheet. Euro bids are cited around the US$ 1.3335 level.