Published by Jamie JemmesonThe euro will continue to face pressure in the medium-term despite recent gains against the dollar, analysts have claimed.Risk management strategists at BNP Paribas and Morgan Stanley have talked down recent gains made by the euro on the back of the landmark Greek rescue deal.Speaking to Bloomberg, Hans-Guenter Redeker, global head of foreign-exchange strategy at BNP Paribas in London, said the currency's troubles are "far from over"."The likelihood is still that the bailout will be triggered and that the peripheral euro-zone nations will have to undergo a painful process of fiscal and wage readjustment," he forecast.The single currency climbed to a three-week high in trading yesterday on the back of the bailout deal, which could provide up to €30 billion in EU funding and an additional €15 billion from the International Monetary Fund.Crucially, repayments on the loans have been capped at around five per cent, reducing Greece's reliance on the bonds market, which has sent yields on Greek paper above seven per cent in recent weeks.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site