Greek Prime Minister, Lucas Papademos, reached an agreement with political party leaders on the necessary measures international creditors are demanding in order to assist the country with another bailout payment of 130 billion Euros. Greek officials also came to a consensus on more budget cuts and bank recapitalizations.

In the meantime, the Euro declined against the Yen as a stalemate in the Greek debt-swap negotiations fueled concerns that the Euro-zone’s debt crisis isn’t over yet. The shared currency also weakened against the majority of its peers as Forex investors wait to see whether the European Central Bank will reduce interest rates when it meets this week. According to strategists, it’s very possible the ECB will leave the costs of borrowing money at 1 percent.

In the U.S., the greenback recovered losses against the Yen following stellar economic reports showing that employers added more jobs than anticipated, thereby lessening the likelihood that the Federal Reserve will implement further quantitative easing. The Yen slumped after reaching close to a post-World War II high versus the U.S. Dollar, thereby dampening speculation that the Bank of Japan would intervene in order to weaken the currency.

And the Australian and New Zealand Dollars advanced against the greenback after economic calendar reports revealed that the unemployment rate dropped in the world’s biggest economy. The Aussie traded at a five-month high, but the currency market will remain vigilant as China prepares to release important data this week and the Royal Bank of Australia meets to decide on interest rates.

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