The safe-haven Swiss franc fell against the euro on Monday after Greece reached a conditional agreement with its international partners to avert an immediate financial crisis, says Reuters.
On Friday euro zone finance ministers agreed to extend debt-laden Greece's bailout deal for four months, provided it drew up a list of reforms by Monday. The deal keeps Greece in the euro zone, though it will live under the EU/IMF rescue plan its government had pledged to scrap.
The euro EUR= jumped as high as $1.1430 on Friday in the immediate wake of the deal but was last down 0.4 percent at $1.1355. However, the single currency rose 0.3 percent to 1.0721 Swiss francs EURCHF=, close to a five-week high.
Oil prices initially jumped on Monday on the Greece agreement but later dipped on concerns about oversupply in North America.
Crude
prices began tumbling in June 2014 as traders reacted to a growing
glut, but prices have picked up since mid-January with Brent jumping
almost $20 to $63 a barrel as traders closed long-standing short
positions in reaction to a falling number of U.S. oil rigs.
Meanwhile, yields on low-rated euro zone government bonds fell as the agreement eased "Grexit" concerns that the country would have to leave the euro zone.
European shares rose. The pan-European FTSEurofirst 300 .FTEU3 index was up 0.4 percent, at its highest since December 2007.
