European morning wrap: Monday morning before a US holiday. You weren't expecting much, were ya?

Fitch's Riley: Significant concerns about Spain remain - MNI interview Fitch's Riley: Italy is performing in line with our expectations. To conduct review on Italy by year end - MNI interview Italy prosecutors seek trial for officials of rating agencies S&P and Fitch Italy's Monti: Italy doesn't plan to ask for bailout. Doesn't contemplate using ESM Greek debt agency official: Greece confident Tuesday's EUR 5 bln t-bill auction to be fully funded. Has discussed it with ECB German FinMin spokeswoman: Greece has made clear progress but still many issues to be addressed Japan PM Noda: Yen remains valued at levels exceeding Japan's economic fundamentals Former ECB'er Bini Smaghi: Greece needs more time.  Europe should extend Greek debt maturities U.S. to overtake Saudi Arabia oil production by 2020, IEA says World cannot afford second Fiscal Cliff after Europe's failed attempt - AEP at The Telegraph London to lose title of world's finance capital, study warns - The Guardian Will Chinese consumers lead the world? - CNN All very quiet really.  European stocks little changed.  Spain's IBEX something of an exception, down -0.8%.   Spanish govt bond yields have ticked higher.  Fitch's Riley summed it up, when he opined in a Marketnews interview that significant concerns about Spain remain. EUR/USD effectively unchanged.  Presently at 1.2722 compared to the 1.2730 which greeted me.  Early reports had buy orders lined up from 1.2710 down to 1.2690 and they have contained selling pressure. Talk of sell stops gathering in the 1.2680/85 area. USD/JPY effectively unchanged. Presently at 79,40 compared to the 79.48 which greeted me.   Buy orders seen layered from 79.25 down to 79.00, sell stops below there and more through 78.90.  Sell orders seen clustered 79.55/65, buy stops above there. Cable touch lower at 1.5895 from early 1.5910.  EUR/GBP steady at .8002.  There was talk of LHS interest (sell interest) in the cross lined up for the 11:00 GMT fix, but it never materialised. AUD/USD fractionally firmer at 1.0430 from early 1.0420, having been as high as 1.0439.  Talk Russia has been buying aussie recently.