The U.S. Dollar rose against the EUR USD and GBP USD as worries about Portugal’s ability to finance itself increased and demand dropped for risky assets and commodities. The shift in risk sentiment is expected to continue as long as issues about peripheral countries in Europe persist. Traders are not waiting for confirmation, but instead are reacting to the news as a precaution.

Confidence that the European Union, Greece situation is close to a resolution is helping to drive up demand for risky assets. This is helping to boost the U.S. stock indices ahead of the opening. Traders are also becoming more confident in corporate earnings reports because of the recent improvements in the economy.