EFTA Document EFTA01449376

28 February 2013 Exchange Rate Perspectives Deutsche Bank El Fig 7: Export volumes have remained below trend since 2001 49 48 47 46 4.5 16 Fig 8: Export volume deviations from trend strongly correlated with moving average of dollar valwtion L/507kvi /ion Ts.4 420 winette0 44o,Evoto.Otwor. 00017101010n0 41S 410 006 66 000 005 010 016 Conebion - -04) 020 61 56 Fig 9: A brief end to the dollar upsurge seems to have boosted export volume growth -20 Jan-94 Jan-98 J