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sd-10-EFTA01458987Dept. of Justice

EFTA Document EFTA01458987

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8 December 2015 World Outlook 2016: Managing with less liquidity FX Strategy: Plenty of run left in the USD upswing • The multi-year strong USD cycle should extend for at least another two years, with a further 10% appreciation in the real broad USD WV'. • 2016 year-end forecasts are largely unchanged, with EUR/USD. USD/JPY and GBP/USD seen at 0.90, 128 and 1.27 respectively. We anticipate extremes in the likes of AUD/USD. NZDiUSD and USD/CAD at 0.62, 0.53 and 1.40 respectively. • In

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Dept. of Justice
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sd-10-EFTA01458987
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