Nomura - "On Friday, we recommended short EUR/MXN, based on the notion that further euro upside would be constrained by continued growth weakness, and continued structural weakness in eurozone capital flows. However, we are not sure yet about the right timing for fresh EURUSD shorts (and we intend to present some detailed analytical work on the euro separately). Another relatively value trade we are also sticking with is AUD/NZD, which we have had on for a while."