European morning wrap: European forex markets enjoy another barnburner!!

Greece's Venizelos won't accept government mandate - Proto Thema German coalition source says parliamentary vote on ESM/fiscal compact will be delayed until at least mid-June - Reuters German auction results German March trade surplus s.a 13.7 bln, pretty much in line with Reuter's median forecast of 13.5 bln French March trade deficit s.a -5.721 bln, in line with Reuters median forecast Spain appears unsure what a "bank bailout" means - Zerohedge Crisis escalates as insurrection breaks German control of Europe - AEP at The Telegraph Portugal scraps four public holidays in austerity drive - BBC I'm slowly losing the will to live.  EUR/USD sits at 1.2967, effectively unchanged from the 1.2973 which greeted me first thing.  Middle Eastern sovereign buying lifted the pairing marginally in early European trade, but they were quick to book profits just under the psychological 1.3000 level and that was effectively that. Barrier option interest now lined up down at 1.2950, 1.2925 and 1.2900.  On topside, sell orders clustered 1.3000/10. USD/JPY down 10 pips at 79.65.  US investment bank seen selling. It's all go.  Kampo buy interest noted starting at 79.70, which has helped slow the decline. Sell stops said to lie through 79.50 and 79.40. AUD/USD touch firmer at 1.0070 from early 1.0055, garnering some much-needed support from real money buying.