Published by Mark Smith-HalvorsenThe dollar continued to slide during the US trading session yesterday (February 9th) as markets eyed a potential rescue package to prevent the spread of the European debt crisis.Although in recent weeks many analysts have anticipated a staged withdrawal of fiscal ballasts in the region, Bloomberg reports that the European Central Bank (ECB) may now be forced to extend its safety net in order to avoid a crisis of confidence in major EU economies."Banks in Greece, Spain and Portugal are disproportionately dependent on cheap ECB cash so any whiff of that drying up and weakening the banking sector further will rattle markets," said Colin Ellis, an economist at Daiwa Capital Markets in London.Speaking ahead of his appointment as European economic affairs commissioner tomorrow, Olli Rehn gave a lift to the euro during foreign exchange trading yesterday as he declared that support would be extended Greece as it struggles to manage its debts.However, this support was offered "in the broad sense of the word" and no firm commitment has yet been made.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site