The
dollar strengthened across the board on Monday after euro
zone leaders clinched a deal with Greece in an
allnight summit, letting investors turn their focus away from
Europe and towards the prospect of higher U.S. interest
rates.European Council President Donald Tusk announced on
Twitter that leaders had unanimously reached agreement on a
third bailout for the cash-strapped southern European
country.EU officials said Greek Prime Minister Alexis
Tsipras had accepted a compromise on Germanled demands for the
sequestration of Greek state assets to be sold off to pay down debt.
The precise terms of the agreement were not immediately known.The
single currency, which had initially risen on the news,
reversed its gains to trade down 0.9 percent on the day at
$1.1060.The dollar gained broadly, hitting an 11 day high
against the yen, which investors tend to buy at times of
uncertainty, at 123.44 yen.
Rupee depreciated 6 paise to 63.45 against dollar in
intraday trade today. The domestic unit had settled flat at
63.39 against the US currency on Friday.Dollar index, which
tracks the movement of dollar against a basket of major world
currencies, stood at 96.03.Euro fell 0.30 per cent to 1.11
against the greenback as uncertainty over Greece continues,
with the debt ridden country and international creditors
failing to break the deadlock over the bailout terms.Greece has now
been given a new deadline to pass new laws as a condition for
negotiations on a bailout.
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