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sd-10-EFTA01459568Dept. of Justice

EFTA Document EFTA01459568

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5 U.S. Dollar Downshifting its Pace Dollar Cycle to Moderate? Historical Dollar Cycles 170 1 +67% 160 150 +38% +43% 140, 130 120 • 110 100 1 226 451 676 901 1126 1351 1576 1978.1985 -- 1995.2032 ea 2011 • Present - At this juncture, the dollar bull market is the strongest in history. - While the bull market should continue, the pace of its rally should moderate. 160 150 6-Year USD Uptrend 140 7-Year USD 130 Downtrend 120 9.Year USD - Downtrend -5-Year

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Dept. of Justice
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sd-10-EFTA01459568
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