The Euro rebounded against the Dollar after early session weakness as Asian traders saw value and bought on the dips. The rally may be short-lived however as selling pressure may return amid concerns about peripheral Euro Zone debt.

U.S. stock markets are trading higher ahead of the opening after hitting oversold levels and bottoming in Asia. Traders took the markets lower overnight in a follow-through break following Tuesday’s sell-off, but after reassessing the financial situation in Greece and the general lack of fresh sellers, turned the markets around on bottom-picking and short-covering.