Any EUR appreciation likely to be short lived: Barclays

Quotes from Barclays Capital:

-Despite an interim agreement between Greece and the Eurogroup, any EUR appreciation is expected to be short lived, in our view.

-After numerous rounds of unfruitful discussions between Greece and its European counterparts, an up to four-month extension to the current program (until June) was negotiated on 20 February.

-The extension is conditioned on the Greek government's commitment to submit a clear outline of planned measures by Monday, 23 February. The agreement buys some time for further negotiations to take place.

-It is crucial to note that any future disbursement of bailout funds will depend on approval by the institutions (EU/ECB/IMF) and the Eurogroup by the end of April.