Financial markets in the United States and around the world are cheering the fiscal cliff deal.

Stocks shot up in Asia and Europe, and the U.S. market is following up on its big rally that began Monday.

Investors had been concerned whether Washington could reach an agreement. Analysts say the markets hoped for a better plan, but they say it's better than nothing at all.

They predicted the United States could fall back into a recession if a deal wasn't reached.
    
Oil was also up and gold and silver also had a small rise.

But not everything is doing better. Some currencies have been dropping, like the Japanese yen, which has fallen to its lowest level since July 2010.