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Euro flat after easing from Greek bailout rally

The euro was flat against the dollar in Asia Wednesday as enthusiasm over a eurozone agreement on a bailout for Greece faded due to concerns more must be done to get the country back on track.

The euro faces downward risks as investors are likely to start adjusting their positions, dealers said.

The euro changed hands at $1.3236 and 105.63 yen in Tokyo morning trade, compared with $1.3238 and 105.50 yen in New York late Tuesday.

The dollar edged up to 79.82 yen from 79.69 yen.

On Tuesday, the European single currency jumped to $1.3293 within minutes of the announcement of a deal approving a 237-billion-euro rescue for Greece, before it eased back throughout the rest of the day.