It appears that Greek problem will be a past as a new cockroach is coing out of the cupboard in form of Italy. While Greece gets to grips with its new coalition government markets are already bracing themselves for the future of Italy's government and its leader Silvio Berlusconi. Unprecedented pressure is mounting on Berlusconi and his handling of Italy's debt problems and economy. His future as Italy's leader is increasingly fragile.
Impact on Forex Market
The dollar rallied against the euro and other major currencies on Friday as jitters surrounding the outcome of Greece's vote of confidence increased the allure of the safe haven dollar.
Ongoing turmoil in Greece and question marks over its recently agreed financial rescue package sent the euro to $1.3792 from $1.3822 the previous session.
Thus one needs to keep tab of the situation in the financial markets to arrive at a logical conclusion for Indian stock market impending direction in days to come.
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