Few days ago, Nomura argued that the latest IMF data on the global central bank reserve composition is a big deal for EUR projecting a faster decline in the single currency in early 2015, driven more purely by private sector flows. Acting on that view, Nomura booked profit on its short EUR/USD position around 1.20 and entered another short position on Friday targeting a quick move to 1.1877. With this trade hitting target at this week's market open, Nomura explains the following 6 reasons behind this fast EUR decline and what is on the cards in the near-term: 1. The euro has had significant downside momentum in ... (full story)