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Greeks Get a Deal, Aussies Get a Warning

Your Money In Motion blogger was temporarily knocked out of commission after a skiing accident. Live from the rehab hospital, here's your FX Fix.

At last: Euro zone leaders reached agreement on a second bailout and closer financial oversight for Greece. Markets reacted cautiously at best.

Gains in the euro were short-lived after the agreement as investors turned their attention to Greece's ongoing problems. [Reuters]

The dollar erased its losses after falling to a 2 1/2 month low against the Swiss franc as the initial optimism faded over the European deal.

China is willing to help Europe solve its debt problem, a foreign ministry spokesman said. [Reuters]

Australia's central bank said there was room to cut rates further, and the Australian dollar slipped. [WSJ]

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