Following a successful Greek bailout deal, the euro has climbed to a three month high against the yen.

But the 17-nation currency remained fairly unchanged against the greenback, as forex trader expressed reserve over outright euro salvation.

“The deal is helping to support the euro in the near term as the outright default appears to have been avoided and short- term uncertainty is removed,” said Chris Walker, a currency strategist at UBS AG in London. “But we remain cautious because several outstanding issues remain unresolved.”

Finance ministers awarded debt-stricken Greece 130 billion euros ($173 billion) in aid, engineered a central bank profits transfer and coaxed investors into providing more debt relief in an exchange meant to tide Greece past a March bond repayment. 

The euro rose 0.2% to 105.64 yen at 10:42 a.m. London time, after touching 106.01 yen, the most since Nov. 14. Europe’s common currency traded at $1.3238 after reaching $1.3293 earlier, the strongest level since Feb. 9. The dollar gained 0.2% to 79.81 yen.

The euro gained 0.5% in the past week as optimism built that Greece would win more international support, with the dollar falling 0.4% over that period and the yen down 2.3%.