In a conference call yesterday, Nomura analysts made some bearish predictions about the outcome of the euro crisis, predicting a that a "decisive moment" for Europe will come sometime in the second or third quarter of this year. This escalation of fear and risk, as well as the methods the European Central Bank will take to solve it, will push the euro downward fast, they argued. What's more, there's little hope of the euro recovering its value anytime soon. "We think $1.20 is highly likely in an exit scenario for Greece," Jens Nordvig, Nomura's Head of Fixed Income Research Americas & Global Head of G10 FX Strategy, ... (full story)