//
According to Reuters, the single currency climbed one per cent against the Swiss franc and hit a two-week high against the dollar during the following day's forex trading.
Speaking to the newswire, Brown Brothers Harriman global head of G10 currency strategy Lena Komileva labelled the EU arrangement as "positive".
She added: "A debt/growth deal is the only solution for an insolvent country and that is what the EU has done, but political and implementation risks remain."
It is the second aid package handed to Greece, which is having to make severe public spending cuts to secure the money.
However, Royal Bank of Canada manager of foreign exchange sales Yoshiko Takayasu told Dow Jones that a negative reaction from the euro is certain when Greece goes into default on its loans.
Posted by Greg Secker
