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Euro up as Greek deal provides relief but caution persists

From reuters.com

The euro rose against the dollar on Tuesday as an overnight bailout deal for Greece prompted investors to pare positions against the currency despite doubts about the deal's implementation. Euro zone finance ministers sealed a 130-billion-euro ($172 billion) bailout for Greece on Tuesday to avert a chaotic default next month after forcing Athens to commit to unpopular cuts and private bondholders to take bigger losses. The euro hit a session high of $1.3292 after the successful talks overnight. In midday trade, the euro was 0.1 percent higher at $1.3254, with near-term support at the day's low of $1.3184. "Being short ... (full story)

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