Published by Jamie JemmesonThe euro has risen on the foreign exchange market as speculation grows that the European Union will confirm its ongoing financial support for Greece.According to Bloomberg, the currency gained against the majority of its 16 major counterparts. A report expected to show that producer price inflation is near a 2.5 year high has also helped the currency.Higher inflation supports the case for the European Central Bank to raise interest rates. In April, the bank increased its key interest rate to 1.25 per cent.Jean-Claude Juncker, head of the group of eurozone finance ministers, said: "I expect the euro group to agree to additional financing to be provided to Greece under strict conditionality," Bloomberg reports.Further payments to Greece are helping to ease ongoing concerns over the debt crisis affecting the country.According to Reuters, the euro's rise could also see an increase in commodity prices and emerging market currencies.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site