[Jens Nordvig at Nomura] estimates suggest that $100-125bn may have been repatriated by Eurozone equity portfolio investors in Aug-Oct.
This is an outsized figure, and may have helped avoid a much bigger decline in EURUSD since August.
Looking ahead, we are skeptical that this repatriation flow will continue to provide strong support for the Euro.
via Here’s One Reason the Euro Hasn’t Gotten Crushed. Yet. – MarketBeat – WSJ.