Australia’s dollar dropped against all of its 16 major peers after the Reserve Bank released minutes of this month’s meeting 

The meeting resulted in unchanged interest rates of 4.25%, provoking forex markets to retreat from the currency which had previously been considered a haven from the euro debt crisis.

The RBA board “judged that if demand conditions were to weaken materially, the inflation outlook would provide scope for a further easing in monetary policy,” it said.

Australia’s currency fell 0.8% to $1.0673. It dropped 0.5% to 85.19 yen.

Commonwealth Bank currency strategist Joseph Capurso said the market had already priced in the Greek resolution.

‘‘The market kind of expected it - the euro’s climbed a little bit, but only by about half a cent or so,’’ he said.

“We might see a bit of a pick up in the Aussie dollar and euro once the London trading session starts, but I don’t think the Australian dollar will reach 108 US cents.

‘‘However, if equity markets start to grow strongly, then we might start to see the Aussie push up.’’

Mr Capurso said that despite a deal being cut, there was still much for forex markets to be suspicious of before Greece was able to stabilise itself.

‘‘We’re still going to be hearing about this in coming days or weeks,’’ he said.