IMF's Lagarde says its preferable Greece moves toward reforms before debt relief provided

Comments from IMF head Lagarde:

• Preferable greece move toward reforms before Europeans provide debt relief
• Unclear where Greek negotiations stand
• Hopes Greek referendum provides more clarity, certainty about situation
• Says IMF balance sheet strong, solid despite missed Greek payment

Headlines via Reuters

EUR doing little (good morning and welcome to the Asian timezone ....)

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added:

Lagarde was asked if she trusts Greek partners ... she responded that the IMF has 'no choice' who represents a country. I.e. 'No'