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ureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan Investment Advisers Association. This report is not meant to solicit the purchase of specific financial instruments or related services. We may charge commissions and fees for ce
rt USD/MXN, sell EUR/BRL and EUR/CLP Theme #10: Turning Up the Volume: Buy USD/GBP variance swap and AUD/USD variance swap Research Team London Bilal Hafeez James Malcolm Henrik Gullberg George Saravelos Caio Natividade Siddharth Kapoor Oliver Harvey Nicholas Weng New York Alan Ruskin Daniel Bre
ureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan Investment Advisers Association. This report is not meant to solicit the purchase of specific financial instruments or related services. We may charge commissions and fees for ce
ange Rate Perspectives The Dollar is Back How China Rebalancing, the Great Rotation to the US and Abenomics Will Change the World Research Team Bilal Hafeez Strategist Deutsche Bank AG/London DISCLOSURES AND ANALYST CERTIFICATIONS ARE LOCATED IN APPENDIX 1. MICA(P) 072/04/2012. Foreign Exchange Glob
ureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan Investment Advisers Association. This report is not meant to solicit the purchase of specific financial instruments or related services. We may charge commissions and fees for ce
ers as to the potential impact of any regulatory provisions noted in this article upon their respective businesses. The author would like to thank Bilal Hafeez and Matt Holmes for their help in writing this report. Deutsche Bank Securities Inc. Page 17 EFTA01464337 30 July 2013 Exchange Rate Perspecti
Entities connected to both Japan Investment Advisers Association and Bilal Hafeez

New Zealand
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Malaysia
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Frankfurt
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Bloomberg L.P.
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Deutsche Bank
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Columbia University
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Moody's
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Hungary
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Chile
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Target
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Alan Dershowitz
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Richard Smith
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