12 Month Return Next 3%• Move (March 2017) (Marc, 2017) World 3.2% 3.6% USA 16% 2.0% EUR vs. USD 1.12 1.05 -6.4% Euroland 1.6% 1.6% USDvs. JPY 113.25 120.00 6.0% UK 2.0% 2.1% EUR vs CliF 109 1.12 2.6% Japan 1.0% 0.8% GBP vs USO 1.43 1.60 6.2% China 6.0% 6.0% USD vs