Deutsche Bank's FX Strategists Blueprint for the rest of 2008.

Which Way to go? 06 October 2008

Which Theme Is It This Week? At the start of the year, we argued that the tight link between shifts in rate differentials and currencies would break down, though we were not so sure what would take its place. The past month has thrown up a plethora of new themes usually beginning with "end of the..." and followed by "...US financial system", "...dollar","...euro","...global growth","....emerging markets" and so on. Formulating views with such a backdrop is not so straightforward, but nevertheless we try.

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