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sd-10-EFTA01458349Dept. of Justice

EFTA Document EFTA01458349

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70 - 65 - 60 - 55 - 50 - 45 - 40 35 - 30 - 25 - 2010 2011 2012 2013 2014 2015 12.5 - 10.0 7.5 - 5.0 - USDRUG Spot. Ins -Stretch' (Standardized residual of spot vs 200dma). rhs 2.5 0.0 -2.5 2) Financial fair value (based on a regression of spot on S&P, VIX, Crude, CRII, US 10y, DX Y, carry): According to our short term `financial fair value' metric, EM FX is cheap almost across the board, with ZAR being the the most undervalued currency. TRY is also cheap, while RUB le

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Dept. of Justice
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sd-10-EFTA01458349
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