The dollar made sizeable gains against the euro as trading resumed for the week. All focus right now is on the agreement between Greece and the International Monetary Fund (IMF), the European Commission, and the European Central Bank (ECB).

Over the past several months, whenever there was an indication that a bailout agreement had been reached, the euro was seen rallying as fears over a Greek default declined. This time though, that was definitely not the case. Investors were subject to a bit of “sticker shock” when the 110 billion euro price tag was revealed. That hefty sum also carries some strict conditions that many question whether Greece will be able to comply with. While this seems to head off any imminent Greek sovereign debt default, with several other countries in the monetary union facing their own struggles should another bailout have to take place one would have to question if the IMF, ECB and European Commission have the monetary resources to offer additional assistance. As of this writing, the euro has given back 61.8% of the gains accumulated after hitting the yearly low of 1.3134.