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: Disclosures relating to our obligations under MiFiD can be found at http://www.globalmarkets.db.com/riskdisclosures. Japan: Disclosures under the Financial Instruments and Exchange Law: Company name - Deutsche Securities Inc. Registration number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance
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
ies: Disclosures relating to our obligations under MiFiD can be found at http://www.globalmarkets.db.com/riskdisclosures. Japan: Disclosures under the Financial Instruments and Exchange Law: Company name - Deutsche Securities Inc. Registration number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance
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
: Disclosures relating to our obligations under MiFiD can be found at http://www.globalmarkets.db.com/riskdisclosures. Japan: Disclosures under the Financial Instruments and Exchange Law: Company name - Deutsche Securities Inc. Registration number - Registered as a financial instruments dealer by the Head of the Kanto Local Finance
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 Financial Instruments and Exchange Law and Bilal Hafeez

Deutsche Bank
ORGANIZATION
Bloomberg L.P.
ORGANIZATION
Frankfurt
LOCATIONthe Kanto Local Finance Bureau
ORGANIZATION
New Zealand
LOCATION
Malaysia
LOCATIONNippon
ORGANIZATION
Moody's
ORGANIZATIONDavid Folkerts-Landau
PERSONMarcel Cassard
PERSONSteve Pollard
PERSONAndreas Neubauer
PERSONBloomberg Finance LP
ORGANIZATION
Hungary
LOCATIONDeutsche Bank AG Johannesburg
ORGANIZATION
United Kingdom
LOCATIONJapan Investment Advisers Association
ORGANIZATION
Norway
LOCATIONDoug Band
PERSONUSD TWI
ORGANIZATION