Euro climbs after second Greek bailout agreed

The euro rose sharply against the dollar as news of the €130bn loan to Greece was announced.

The single currency climbed to a high of $1.3293 on the news, a two-week peak, before retreating marginally to $1.3282. The jump came after european ministers agreed a deal which will see the country receive loans in exchange for a commitment to bring down borrowing sharply over the next ten years. Bondholders have also agreed to the deal, which will see them lose 53.5% of their investments. Overnight, shares in Asia were mixed, with the Nikkei and Hang Seng down but the Shanghai Index up. The Nikkei and Hang Seng fell 0.2% and 0.3% respectively, while the Shanghai Shenzen was u...