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Market Outlook 28 Dec CURRENCIES EUR/USD The euro has been on the rise while the dollar has been dropping against it, as the efforts to avert the fiscal cliff continue. The dollar fell to its lowest in 8 months trading at 1.3236 per euro at 5:05 pm New York time, and it has weakened as much as 0.5 percent. The euro’s 14-index of relative strength reached 70.6 to the dollar. USD/JPY The yen has been on a fall, reaching its lowest in 28 months against the dollar. The yen dropped 0.6 percent touching 86.10 per dollar, its weakest since August 16, 2010.As of 2:17pm Tokyo time, the yen traded at 86.64 per dollar, after trading at 86.45 which is 0.4 percent lower than yesterday. The yen has lost 2.6 percent against the dollar since December 21 of this year, and its 14-day relative strength index has dropped to 17 against the dollar. EUR/JPY According to Bloomberg’s correlation-weighted indexes the euro has gained 3 percent in the past three months, making it the second highest of the 10 development market currencies.The yen however has dropped 0.7 percent to 113.99 per euro, and its 14 day relative strength index dropped to 19.8 against the euro.The constant fall of the currency has spurred speculations that the central bank of the country will need to try and set up a cash infusion to control the situation.The Japanese currency has lost 0.4 percent to 114.49 per euro, and dropped to its lowest level since July 11 2011, while the euro has gained 0.1 percent and is now at 1.3242 dollars. AUD/JPY The Australian currency has been gaining strength and has reached its highest against the yen since April of 2011, and has touched 89.83 yen. The decline in Japan’s consumer prices which has added to the monetary problems of the country, has helped the Australian dollar trade at 89.67 as of 4:01 pm Sydney time, which is 0.4 percent higher than yesterday. The yearly increase of the currency is predicted to be 14 percent against the Japanese currency.

Market News 7 Jan 2013 Currencies EUR/USD The dollar gained 0.3 percent and rose to 1.3035 dollars per euro on the 4th of January. The dollar gained a weekley 0.7 percent increase while the euro lost 0.7 percent. USD/JPY At 6 am London time the Yen gained 0.5 percent and rose to 87.73 per dollar. The yen's relative strength index versus the dollar fell to 15.5 on the 4th of January, its lowest since December 2001. The yen's continued shrinking has lead the country to take drastic measures, and it is expected that the extra budget which will be used to boost the economy will take around 5-6 trillion yen out of the public's work spending money. AUD/USD The Australian dollar has gained against most of its counterparts. The yield of Australia's benchmark three-year government note went to 2.87 percent, its highest since the 17th of August 2012, and was 2 points lower than the 4th of January at 2.83 percent. The Australian dollar is expected to fall below 1 dollar this year, and weaken to 99 US cents by the end of the year.

Market News 4 Jan 2013 Currency EUR/USD For the second day the dollar stayed higher than the euro, with a 0.1 percent gain and traded at 1.3040 per euro at 5 pm New York time, making it its strongest level in three weeks. The dollar is expected to advance 1.19 dollars per euro by the end of the year. USD/JPY The yen fell against most other major currencies including the U.S. dollar, and that marks its longest weekly loss since 24 whole years, with a 2.1 percent loss against the U.S. dollar. It fell to 87.83 per dollar, and at 7 am London time it fell further to 87.74 per dollar. The yen’s 14 day relative strength index fell to 16.6 against the dollar. AUD/USD China’s decline has had a big impact on the Australian dollar as the country is Australia’s biggest trade partner. The Aussie fell to 1.0441 at 4:25 pm Sydney time, losing 0.2 percent from yesterday. Expectations are that the currency will not have a noticeable improvement until china starts to improve pulling it along.

Market outlook 2 January 2013 Currencies EUR/USD After a high ride of 1.33 a dollar, the euro fell 0.1 percent to 1.3186 dollars. The dollar has rose 0.3 percent reaching 1.3148 per euro. Over the past year, 2012, the euro has had an overall decline of 1.1 percent, while the dollar fell 3.3 percent. USD/JPY Then yen continues to weaken, falling 0.7 percent to 87.34 per dollar, and has reached its lowest level since 29 July 2010 at 87.35. Today however the dollar has also weakened against other major currencies. The Yen’s 14 day relative strength index is at 17 versus the dollar. AUD/USD After being one of the strongest currencies, since the passing of the legislation in the US to increase taxes and cut budgets on Wednesday the Australian dollar has suffered some losses and has fallen lower than the USD. The pair fell 0.18 percent to 1.0486 dollars. GBP/USD The British pound has been gaining over the last month of last year, and has now risen to its highest level against the dollar in 16 months at 1.6381 dollars, before going down to 1.6252 dollars.

Market outlook 2 January 2013 Currencies USD/JPY The Yen has dropped even further against the dollar, and has gone down to 87.33 per dollar, its lowest since July 29, 2010. As of 6:38 am London time it traded at 87.27. These changes took place after the legislation to avert the fiscal cliff was passed. Currency strategist in Sydney Australia& New Zealand Banking Group Ltd. Andrew Salter stated that the Yen will probably remain weak for the time being, adding “if you look out a month or two, it really depends upon what the government is able to achieve as far as the central bank is concerned” EUR/USD The dollar lost 0.5 percent and fell to 1.3272 dollars against the euro. Its weakening has taken affect as the legislation for averting the fiscal cliff was passed by the U.S. today. AUD/USD The U.S. dollar slightly gains while the Aussie loses, dropping 0.7 percent from its lowest level in over four weeks. As of 11:08 am Sydney time it traded at 1.0399 dollars. It is predicted that the Australian dollar will rise to 1.07 dollars throughout the next six months, and to 1.01 by the