The euro-area representatives approved an aid of 30,000 million (40,500 million) in loans, if requested by Greece, with at least 10,000 million is expected to come from the International Monetary Fund (IMF).
The huge financial safety net boosted investors' appetite for riskier assets, helping the Australian dollar briefly to touch its highest level in five months.
However, comments by German Finance Minister put the amount of uncertainty. A spokeswoman said it would take a summit of European leaders to enable aid to Greece and also should be consulted Germany Bundestag.
The European Commission argued that there is a summit of leaders needed to activate the plan.
"They include only the uncertainties. Still do not know what the trigger for the aid to be released. It seems that we have not reached agreement yet. It is set entirely within the market wants to see," said Adam Cole, global head currency strategy at RBC Capital Markets.
"There is still uncertainty surrounding the euro," he said.
The euro rose to a maximum of $ 1.3691, its highest level since mid-March, before trimming its advance to a session low of $ 1.3588 in Europe.
Subsequently, gained 0.7 percent on the day at $ 1.3595.
Earlier, the single currency rose more than 1 percent, at 127.45 yen.
Borrowing costs in Greece are reduced, leading to the premium that investors should pay for having 10-year Greek debt on the German benchmark bonds to 334 basis points from 409 points on Friday.
Greece will test the market appetite for debt with an auction of 1,200 million euros in Treasury bills on Tuesday.
The single currency still has a loss of more than 4 percent against the dollar and the yen since January in one of the worst performances of the world's major currencies this year.
The dollar eased 0.7 percent against a basket of reference currencies, in a week as part of quarterly earnings season of big business.
The yen fell 0.4 percent to 93.57 per dollar in a market focused on a possible revaluation of the Chinese yuan.
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