| Q3'09 | Q4'09 | Q1'10 | Q2'10 | Q3'10 | Q4'10 | |
| EUR/USD | 1.37 | 1.35 | 1.37 | 1.39 | 1.45 | 1.46 |
| GBP/USD | 1.58 | 1.58 | 1.62 | 1.68 | 1.78 | 1.81 |
| GBP/EUR | 0.87 | 0.86 | 0.85 | 0.83 | 0.83 | 0.81 |
| USD/JPY | 96.01 | 96.17 | 96.17 | 97 | 94 | 90.5 |
Sources: Danske Bank, BBH, NY Melon Bank, BNP Paribas, BMO Capital Markets, Calyon, CIBC,
Deloitte, RBC and TD Economics







