EFTA Document EFTA01451195

Fonvarded by Tazia Smithdbidbcom on 011121201403:29 PM - From' Nav Gupta/db/dbcom@DBEMEA To' Tazia SmitVelb/dbcomeDBAMERICAS, Date 01/102014 C6:21 AM Subject SY [I] Classification: For internal use only Long SY Call Options. We like long expiry options to benefit from the present dislocation between interest rates and volatility Deutsche Bank FX Strategists are calling for USDJPY of 115 by year-end 2014. and 120 by year-end 2015 See DB FX Blueprint published 1,914, and note that #2 of