EFTA Document EFTA01385834

From: Martin Zeman Sent: 9/22/2017 7:57:40 AM To: Paul Barrett CC: Vahe Ste anian ; Joshua Shoshan I ; Davide-A Sferrazza Subject: FX Trade idea: Time to buy USDJPY FVA? (C) Classification: Confidential Good morning, Paul, Not sure you look at FVA stuff, but this one in USDJPY looks good to me. Martin Xavier Avila DB FX Trade Idea Trade Ideas Buy ly2y USDJPY FVA at 10.50% Current 2y Implied volatility is at 9.95% Rationale • The USDJPY volatility curve has flattened and re