It took fairly severe risk aversion to see a squeeze in EURUSD up to above 1.25 earlier this week; and now that markets are relaxing (and the Fed helping) we are quickly back to the lows, notes Nomura "The correlation between risk assets and the Euro is linked to the structure of capital flows. When risk appetite is there, there is steady capital outflows from the Eurozone. When there is risk aversion, there can be temporary repatriation, and the Euro benefits. The key to the Euro outlook in 2015 is the degree to which Eurozone investors will push capital abroad," Nomura argues. EUR downside: drivers. In ... (full story)