15 September 2011
FX Blueprint - Cherry Picking

Overview ............................................................................................ 3
Theme #1: Fleeing euro, flying yen .................................................. 4
Theme # 2: Asia Anchored ................................................................ 6
Theme # 3: I'm a Believer .................................................................. 9
Theme # 4: Inflating Away .............................................................. 11
Theme #5: It's Summer Down Under ............................................. 13
Theme # 6: Heaven, Not Haven ...................................................... 15
Theme # 7: Seeking refuge in Eastern Europe .............................. 16
Theme # 8: LatAm Doesn’t Carry the Day ..................................... 17