EFTA Document EFTA01458011

Deutsche Bank Markets Research Global Asset Management: For institutional and registered representative use only. Not for public viewing or distribution. Wealth Management: For client use. Economics Foreign Exchange Rates FX Daily An update to our EUR/USD view (and forget QE, think QT) Our bearish EUR/USD view since last year has relied on two major forces: large-scale European capital outflows (what we have called Euroglut) and the eventual prospect of Fed exit from ultra-accommo