Spain's €100bn bailout boosts euro

Spain's Prime Minister said the €100bn EU and IMF bailout has avoided the need for a much larger national rescue package. The euro rose nearly 1% to $1.26694, its highest level since 23 May, before pulling back to trade at $1.2627. Asian markets rallied overnight, with Shanghai's index 1% higher, the Hang Seng up 2.43% and the Nikkei up 2.08% on news of the deal. US futures suggest the major equity markets across the pond will also open in positive territory. However, the move could spook markets when they open on Monday as the bailout cash will be channelled through the government...