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h Marcel Cassard Global Head CB&S Research Asia-Pacific Fergus Lynch Regional Head Principal Locations Deutsche Bank AG London Tel: Deuts Frankfurt 60272 Frankfurt am Main German Deutsche Bank Dubai Dubai International Financial Centre . tjox Dubai City Tel: Publication Address: Deutsche
ency markets are no longer reacting as strongly to such measures. Instead, other central banks are catching up to Fed easing, such as the BoJ since Abe's election (or even earlier the SNB in 2011), are having a distinctly bigger a more negative impact on their currencies over the dollar. Finally,
che Bank Securities Inc., a member of the NYSE, the NASD, NFA and SIPC. In Germany this report is approved and/or communicated by Deutsche Bank AG Frankfurt authorized by the BaFin. In the United Kingdom this report is approved and/or communicated by Deutsche Bank AG London, a member EFTA01464476 of t
nd ahead of the April '14 consumption tax hike)! Measures of progress will come over the summer, with investors able to gauge the reaction to: (i) Abe's grand deregulation and competition plan, to be unveiled midJune; (ii) the Tokyo metropolitan and Upper House elections, in June and July respect
has the meaning given in section 761G of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities plc, Frankfurt Branch and J.P.Morgan Chase Bank. N.A., Frankfurt Branch which are regulated by the Bundesanstalt fir Finanzdienstleistungsaufsicht. Hong Kong: The
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has the meaning given in section 76ICi of the Corporations Act 2001. Germany: This material is distributed in Germany by J.P. Morgan Securities pk, Frankfurt Branch and J.P.Morgan Chase Bank, N.A., Frankfurt Branch which arc regulated by the Bundesanstalt fiir Finanzdienstleistungsaufsicht. Hong Kong: The
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hairman, Morgan Stanley Dean Witter Richard W. Fisher, former U.S. Deputy trade representative Jorgen Fitschen, Executive committee, Deutsche Bank, Frankfurt Thomas S. Foley (D-WA) L. Yves Fortier, Senior Partner, Ogilvy Renault, Barristers and Solicitors, Montreal; former Canadian Ambassador and Perman
Beach es- tate once owned by health- care magnate Abe Gosman. Trump topped Epstein with a $41.35 mill
Entities connected to both Frankfurt and Shinzo Abe

Lufthansa
ORGANIZATION
Jeffrey Epstein
PERSON
George W. Bush
PERSON
American Express
ORGANIZATION
Lesley Groff
PERSON
John F. Kennedy
PERSON
United States
LOCATIONMaria Farmer
PERSON
Phoenix
LOCATION
Prince Charles
PERSON
Ghislaine Maxwell
PERSON
Honolulu
LOCATION
Donald Trump
PERSON
Deutsche Bank
ORGANIZATION
Bloomberg L.P.
ORGANIZATION
Washington State
LOCATION
United Kingdom
LOCATION
Julie K. Brown
PERSONNatalia Molotkova
PERSON
Joi Ito
PERSON