EFTA Document EFTA01461821

From: Tazia Smith Sent: To: CC: Paul Morris Subject: EURUSD Update (CI Attachments: pic00771.git pic25456.gif 7/1/2014 11:46:02 AM Classification: Confidential Va he Stepanian Rich - Chatted with Nay re: euro position. view from the KCP Cap Mkts London team is that the recent euro strength (dollar weakness driven) reverts again as the cross trades in its low-130 to high -130 range. As previously discussed, looking to profit on that reversion. current mark to market is down -2Sk.