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According to Reuters, the single currency climbed as high as $1.4279 following the inking of the deal, but dropped to $1.4219 on Friday (June 24th).
Jeremy Stretch, head of currency strategy at CIBC World Markets, summed up the situation for the news agency, saying: "The euro is struggling a bit and this deal isn't really a game changer.
"It just brings into focus the hurdles the Greeks have to cross with these austerity measures."
There were worries that the release of the German IFO survey could damage the euro further, but many analysts have been surprised to learn that the index rose for the first time in four months in June, climbing to 114.5 from 114.2 in May.
Reuters polled 37 experts last week and none of them expected the business climate measure to increase.
Posted by Clive Arneil
