Aussie rises on positive Australian data; Euro fragile as Tsipras faces mutiny

On Tuesday the Australian dollar was higher against its U.S. counterpart, pushed higher by upbeat business confidence data from Australia. The euro was pressured by the news of a third bailout deal for Greece.

AUD/USD hit 0.7432 during late Asian trade, the session high; the pair last traded at 0.7430, adding 0.32%.

EUR/AUD was last at 1.477200.

Earlier Tuesday, the National Australia Bank reported that its business confidence index climbed to 10 last month from a reading of 7 in May.

Elsewhere, sentiment for the euro remained vulnerable after euro zone leaders reached a unanimous agreement on a third bailout deal, following 17 hour-talks, which unfroze as much as 86 billion euros ($95 billion) of aid Greece needs to stay in the euro.

Creditors’ demands include an overhaul of sales tax, a broadening of the tax base and a clampdown on pension costs.

Now that Greece's Prime Minister Alexis Tsipras accepted the tough measures, the Greek parliament needs to pass new legislation by Wednesday.

However, as media sources report, Tsipras has faced a mutiny within his coalition.

Greek PM would now “have to change his administration and clear out hardliners and radicals from his party,” as well as rely on opposition support to pass the necessary measures, said Eurasia Group analysts Mujtaba Rahman and Federico Santi.

“But it is a tough call to determine how Tsipras will go about doing this.”

EUR/USD last traded at 1.0981 losing 0.18%.