Subject: Re: EURUSD Update From: Tazia Smith < Date: Tue, 01 Jul 2014 12:44:11 To: Richard Kahn Cc: Paul Morris Vahe Stepanian < Classification: Confidential All right, Spot Ref: 3m $7013/MT Bid: $275.71/MT ($344,637.50, +$13,388), 15% Vol Mid: $285.60 ($357,000), +$25k,750), 15.6% Vol I'd counter the DB traders bid, work a level. To get 280/MT (+$18,750 vs cost basis) though, we need to see $7025 on spot (using same vols) Traders want to see a close above 7050 before really calling this a sustained break-out and levels running higher. Without that close, foresee reversion. My view: JE doesn't like this trade anymore, take it and be done. But I Call you so we can discuss/show him accordingly. Best, Tazia (Embedded image moved to file: pic00377.gif) (Embedded image moved to file: pic21381.gif) Tazia Smith Director I Key Client Partners - US DB Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 10154-0004 New York, NY, USA Tel. +1(212)454-2889 Fax +1(646)257-3131 Mobile +1 917 327-4107 Email (Embedded image moved to file: pic20951.gif) From: Tazia Smith/db/dbcom To: Richard Kahn <IIIIIIIIIIIIIIIIIIIIIIF@DEUBAINT, EFTA01469266 Cc: Paul Morris/db/dbcom@DBAMERICAS, Vahe Stepanian/db/dbcom@DBAMERICA S Date: 07/01/2014 12:27 PM Subject: Re: EURUSD Update [Cl Classification: Confidential 7000 is a huge level! we broke out vs. reverting (i thought we'd revert and then move higher) . let me get a market and let's discuss (Embedded image moved to file: pic20205.gif) Tazia Smith Director I Key Client Partners - US DB Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 10154-0004 New York, NY, USA Tel. +1(212)454-2889 Fax +1(646)257-3131 Mobile +1 (917)327-4107 Email (Embedded image moved to file: pic12089.gif) From: Richard Kahn < To: Tazia Smith/db/dbcom@DBAMERICAS, Cc: Paul Morris/db/dbcom@DBAMERICAS, Vahe Stepanian/db/dbcom@DBAmerica Date: 07/01/2014 11:47 AM Subject: Re: EURUSD Update (C) EFTA01469267 thank you for update also looking at copper position and happy to see unrealized profit of -+30,000 any thoughts on jee exiting or do you see continued strength in copper please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel 212-971-1306 fax 646-350-0954 cell 917-414-7584 On Jul 1, 2014, at 11:46 AM, Tazia Smith > wrote: Classification: Confidential Rich - Chatted with Nav re: euro position. View from the KCP Cap Mkts London team is that the recent euro strength (dollar weakness driven) reverts again as the cross trades in its low-130 to high -130 range. As previously discussed, looking to profit on that reversion. current mark to market is down -25k. Let us know if you have additional thoughts/questions Best, Tazia <Mail Attachment.gif> Tazia Smith Director I Key Client Partners - US DB Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue, 10154-0004 New York, NY, USA Tel. +1(212)454-2889 Fax +1(646)257-3131 Mobile +1 (917)327-4107 Email <Mail Attachment.gif> This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this EFTA01469268 communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA01469269