ForexLive European wrap: At least the wrap isn't delayed, but then it's not coming from Greece

Greek political leaders meeting delayed till 1PM GMT Germany proposes postponing majority of new Greek aid S&P: Japan's Sony downgraded to BBB+ from A-; outlook negative German December trade surplus s.a  Eur 13.9 bln vs Reuters forecast of 14 bln Swiss January unadj jobless rate 3.4% vs Reuters forecast 3.5%, sa 3.1% as expected Greek trump card fails as stronger Europe shrugs off break-up threat-UK Telegraph EFSF's Deputy CEO Frankel: EFSF will probably play a significant role in PSI and Greek programme German auction result: Sold Eur 3.293bln of  5yr benchmark 0.75% Feb 2017 Bobl's out of target Eur 4 bln EU's Barnier:  Financial Transaction Tax would be financially productive.. A fairly controlled session ahead of the news out of Greece, which naturally has been delayed.... EUR/USD got an early boost just ahead of the main European opening as M/E names bought from around 1.3255 up to  around 1.3286. BIS then popped up and turned the tide again, but the Middle East buyers persisted and a second wave took  us up to 1.3289 before offers said to be from " the large German " bank supposedly protecting the 1.3300 barrier, pushed the focus lower again along with some real money selling. News that the Greek leaders meeting was delayed, hardly surprised but took the gloss off the eur with a slip to 1.3249, but then recovered as a large buying order into the 1100 GMT EUR/GBP fixing  lifted the cross from around 0.8345 to 0.83675, before heading back down to 0.8350. Elsewhere USD/JPY   faded from highs of 77.19  on exporter sales down to 76.99 and EUR/JPY  bounced around between 102.05-45 GBP/USD was happy minding it's own business but failed to break up through offers stacked up at 1.5925/35 (session high 1.5929) and then fell on  the EUR/GBP rally  to 1.5875. EUR/CHF  hits highs of 1.2128 before slipping back but has held the session above 1.2100 so far Equity markets have been relatively steady with tiny % age gains ahead of the Greek meeting. Gold and silver are both holding firm with WTI  up around 50c at 99.50 and Gold steady between 1742-1752 (For orders etc please see the  note at  09:41 earlier)