Euro up to $1.3766 in European morning trade

FRANKFURT: The euro is steady against the U.S. dollar as concerns over Greece's mountain of debt begin to ease somewhat.

The 16-nation euro bought $1.3766 in European morning trade Wednesday, up slightly from the $1.3757 it bought late Tuesday in New York.

The British pound is up to $1.5800 from $1.5779 and the dollar trades at 90.21 Japanese yen compared to 90.13 the night before.

The euro has lost ground recently over deepening worries about swelling budget deficits in Greece and other weak economies in Europe, like Portugal, Spain and Ireland.

European finance ministers in Brussels warned Athens this week that it would have to prepare even tougher budget cuts if its current austerity program can't reduce its massive deficit.