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Markets Relieved at Fiscal Deal, but Rocky Path Ahead

Posted by Forexsq 143 days ago (http://www.cnbc.com)

Financial markets are relieved that the U.S. Congress has finally approved a deal to avert a "fiscal cliff", but analysts warn that investors now face a rocky two months ahead as negotiations over the debt ceiling begin.

Asian markets rose to a five-month high on Wednesday after news late on Tuesday that the U.S. Congress approved a rare tax increase on the wealthiest households to prevent the U.S. economy from falling into a recession.

European shares meanwhile were expected to open higher,judging by trade in equity futures, suggesting a good start for Wall Street on the first day of trading in 2013.