The euro rebounded against the dollar and equity markets around the globe surged to record highs on Friday after euro zone finance ministers agreed in principle to extend heavily indebted Greece's financial rescue by four months, SIA reports citing the Reuters.
Investors had awaited a deal all week. As talks for a deal progressed, Germany's DAX index hit a record intraday high and Britain's top share index closed within 0.5 percent of a 15-year high before the accord was announced.
The euro rebounded and the benchmark 10-year U.S. Treasury note retreated. Europe's leading equities index closed at seven-year highs in anticipation a deal would be reached.
The Greek accord will allow investors to concentrate on the fundamentals that should be driving the market, said Ben Pace, chief investment office at HPM Partners in New York.
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