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uments and Exchange Law: Company name - Deutsche Securities Inc. Registration number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan
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
uments and Exchange Law: Company name - Deutsche Securities Inc. Registration number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan
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
uments and Exchange Law: Company name - Deutsche Securities Inc. Registration number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance Bureau (Kinsho) No. 117. Member of associations: JSDA, Type II Financial Instruments Firms Association, The Financial Futures Association of Japan, Japan
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 the Kanto Local Finance Bureau and Bilal Hafeez

Deutsche Bank
ORGANIZATION
Frankfurt
LOCATIONDeutsche Bank AG Johannesburg
ORGANIZATION
United Kingdom
LOCATIONNippon
ORGANIZATION
Moody's
ORGANIZATION
South Africa
LOCATION
New Zealand
LOCATION
Malaysia
LOCATION
Bloomberg L.P.
ORGANIZATIONAndreas Neubauer
PERSONSteve Pollard
PERSONDavid Folkerts-Landau
PERSONJapan Investment Advisers Association
ORGANIZATIONAssociation of Japan
ORGANIZATIONMarcel Cassard
PERSON
Richard Smith
PERSON
Norway
LOCATIONthe Financial Instruments and Exchange Law
ORGANIZATIONBloomberg Finance LP
ORGANIZATION