IMF update sees euro stabilise

The euro held up in overnight trade amid reports of a possible boost in resources for the International Monetary Fund.

There are also hopes that Greece will strike a deal with its creditors on restructuring its debts.

Earlier this week the IMF said it needs $500m (€387.5m) more to boost its war chest.

Analysts say China is likely to contribute funds, but its not clear what conditions will be attached.

The United States, the IMF's biggest stakeholder, has so far ruled out writing any more cheques.