U.S. Forex Market Commentary

EURO The euro moved lower vis-à-vis the U.S. dollar today as the single currency tested bids around the US$ 1.3935 level and was capped around the $1.4130 level. The common currency ended higher for the week but gave back some of yesterday’s gains. Traders cited increasing pessimism about the prospects for an economic recovery in the eurozone. European Central Bank President Trichet bearishly said the eurozone’s economic situation is still “difficult and unpredictable” but