Epstein Files Search

EFTA01464308Set 10

2013-07-30105p15,379w

AUD/USD 0.920.980.980.970.950.930.900.85 NZD/USD 0.800.800.800.790.770.750.720.68 USD/CHF 0.930.991.041.051.051.061.071.12 USD/SEK 6.486.716.886.836.786.796.877.05 USD/NOK 5.935.836.046.056.066.076.136.23 EUR-crosses EUR/JPY EUR/GBP EUR/CHF EUR/SEK Source: Deutsche Bank ... July 2013 Exchange Rate Perspectives: FX and the Financial Transaction Tax Figure 13: EUR/CHF: CHF is expensive against the euro 1.0 1.5 2.0 2.5 3.0 3.5 4.0 EUR/CHF 20% Band ... EUR/CHF 1.0 1.5 2.0 2.5 3.0 3.5 4.0 73 77 81 85 89 93 97 01 05 09 13 Source: DB FX Research Figure 14: EUR/CAD: CAD is close

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01464308.pdf

EFTA01148564Set 9

2010-02-1910p8,351w

emerging markets in the 1980s and early 1990s, against the euro (currency floor of EUR/CHF 1.20 in and even in Iceland following the 2008-09 financial crisis. Switzerland, and euro ... Swiss National Bank would probably abandon the experience from EMU breakup. Cross-border trade, EUR/CHF 1.20 floor for two reasons. First, inflows into investment and banking are much more extensive ... something as volatile as the next year? euro would be during a breakup. A EUR/CHF decline to at least 1.10 or 1.05 is likely. Africa's CFA franc zone, which

https://www.justice.gov/epstein/files/DataSet%209/EFTA01148564.pdf

EFTA01387380Set 10

2018-01-091p595w

reallocation into FX will continue to weigh on the franc this year. Stay long EUR/CHF targeting 1.25 and also sell CHF/JPY on positioning and valuation. This year could Marl ... with the SNB's assessment of fair value closer to 1.30. Unless outflows strengthen EUR/CHF materially, we believe the SNB will also be reluctant to pre-empt the first ... banking system (Fig 4). While a hawkish ECB repricing may offer greater upside for EUR/CHF (see theme #1), there is still room for the first SNB hike to be pushed

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01387380.pdf

EFTA01149274Set 9

8p5,905w

other currencies look intact. • SNB stole the spotlight by setting a floor for EUR/CHF which could affect other major currencies through the re-channelling of fiscal hedging. But why this ... cautiously monetising the SNB's floor for EUR/CHF by selling short-dated puts struck at the 1.20 floor, albeit recognising the long-term constraints and pressures on this ... unlimited" Fenton el al. quantities of foreign currency to maintain a floor for the EUR/CHF of 1.2 is a OA Markets Monthly. Lawrence Eagles et al. new bullish factor

https://www.justice.gov/epstein/files/DataSet%209/EFTA01149274.pdf

EFTA01149102Set 9

2011-10-1225p8,091w

policy to contain additional currency strength by introducing a 1.20 ceiling on EUR/CHF. A similar measure was successfully introduced against the DM in 1978. Then, the SNB was successful ... spite of an environment that is theoretically still bullish for the Swiss franc. EUR/CHF has been stable above 1.20. ■ At 1.20, the Swiss franc is still overvalued (roughly

https://www.justice.gov/epstein/files/DataSet%209/EFTA01149102.pdf

EFTA01171835Set 9

3p1,446w

action (short USD/JPY 1x2 put spreads, short GBP/JPY through seagulls, s= hort 6-mo EUR/CHF puts; (3) no winners in European cage match (3-mo range b- inaries in EUR/GBP ... borrowing in CHF - are still intact=2E The SNB has = infinite capacity to peg EUR/CHF, but the cost in terms of inflation and ex= cess credit growth will become more

https://www.justice.gov/epstein/files/DataSet%209/EFTA01171835.pdf

EFTA01464418Set 10

2013-05-1660p12,430w

inflation outlook, we see conditions as ripe for a breakout in both USD/CHF and EUR/CHF targeting 1.00 and 1.27 respectively over the rest of the year. Deutsche Bank AG/London Page ... Long USD/JPY Long EUR vs. USD, JPY, GBP, CHF basket Short GBP TWI Long EUR/CHF Long AUD/CAD Long NZD/CAD Short EUR/SEK Short EUR/NOK Long S&P call contingent on higher

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01464418.pdf

EFTA00757021Set 9

2010-09-171p281w

Attachments: sg2010091733529.gif; sg2010091733506.gif I attached charts of EUR/CHF and USD/CHF. EUR/CHF has rallied from 1.2825 to 1.32 over the past week on lower inflation and rates expectations in Switzerland

https://www.justice.gov/epstein/files/DataSet%209/EFTA00757021.pdf

EFTA01458618Set 10

2016-09-261p347w

EUFI/CAD: CAD is cheap against the euro 4.0 4.0 19 19 #.4 3.6 EUR/CHF 15 17 — — —20% Band ^ r.• 3.0 3.0 PPP EUR/CHF

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01458618.pdf

EFTA01458291Set 10

1p553w

choose to sterilize past interventions rather than to reverse them by selling EUR/CHF. This means that there would be no need to swap non-EUR reserves into EUR; CHF liquidity

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01458291.pdf

EFTA01449211Set 10

2013-07-301p513w

CISISOM Rosen Soombeep ',Moat": De AVOONO (Fwd. Rates) 0.86 0.86 0.87 Switzerland EUR/CHF 1.23 1.25 1.25 1.24 (Fwd. Rates) - 1.23 1.23 1.23 Norway EUR/NOK 7.86 7.35 7.25 7.15 !Emerging Europe

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01449211.pdf

EFTA01458564Set 10

2015-10-021p406w

Switzerland —UK —Svaxion Svotrodand The SNB abandoned the CHF peg earlier this year. With EUR/CHF now at our year-end 1.10 target, we see further gradual depreciation going forward

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01458564.pdf

EFTA00598000Set 9

8p5,869w

week maturities, but then only for a handful of markets such as EUR/USD and EUR/CHF. These 1% patterns suggest some complacency that Aug 2 will pass as a non-event

https://www.justice.gov/epstein/files/DataSet%209/EFTA00598000.pdf

EFTA01449358Set 10

2013-02-281p160w

EUR/GBP 0.87 0.89 0.87 0.86 0.85 0.83 0.80 EUR/CHF 1.22 1.23 1.25 1.25 1.25 1.23 1.23 EUR/SEK 845 8.30 8.20 8.10 8.00 7.75 7.50 EUFt/NOK

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01449358.pdf

EFTA01459686Set 10

2016-01-151p376w

Switzer land Svetterlencl The SNB abandoned the CHF peg earlier this year. With EUR/CHF now at our year-end 1.10 target, we see further gradual depreciation going forward. Conant

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01459686.pdf

EFTA01458613Set 10

2015-09-251p259w

EUR/GBP 0.74 0.69 0.67 0.71 0.74 0.79 0.82 EUR/CHF 1.09 1.12 1.14 1.15 1.18 1.20 1.25 EUR/SEK 9.42 8.90 8.83 8.75 8.75 8.50 8.50 EUR/NOK

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01458613.pdf

EFTA01459606Set 10

2016-01-121p480w

easing. As this flow dissipates, it should weigh 7% less on the EUR/CHF cross. Combine longs there with -1% CHFUPY shorts on valuation grounds as well

https://www.justice.gov/epstein/files/DataSet%2010/EFTA01459606.pdf

EFTA00428658Set 9

2011-09-125p1,637w

China closed for holiday) EUR 1.3634 (-0.17%) JPY 77.02 (+0.77%) AUD 1.0341 (-1.23%) EUR/CHF 1.2052 (-0.14%) Copper -1.74% 10yr 1.90% Futures: Dow-173, Nasdaq

https://www.justice.gov/epstein/files/DataSet%209/EFTA00428658.pdf

EFTA00914298Set 9

2018-01-081p86w

since October; +3.4%). SPY calls, tech and China working well. EUR/CHF we are flat. Argentine Peso the only significant position that has gone against us. Watching it closely. Paul Paul

https://www.justice.gov/epstein/files/DataSet%209/EFTA00914298.pdf

EFTA00425821Set 9

2011-10-195p1,652w

Greece +2.2%) ... Nikkei closed +0.35% (HSI +1.29%, China -0.25%, KOSPI +0.93%) EUR 1.3853 (+0.73%) EUR/CHF 1.2427 (+0.53%) JPY 76.79 (+0.04%) AUD 1.0342 (+0.78%) Copper -0.85% 10yr 2.21% 30yr 3.21% Futures

https://www.justice.gov/epstein/files/DataSet%209/EFTA00425821.pdf