For its part, this section should be the focus of passive currency managers and corporations. Here too, the discipline of how one puts together a currency strategy is the same, though the purpose is different. The currency market practitioner has to form a currency view. That view can come from the bank counterparties that the corporation or asset manager uses, but the currency market practitioner should also have a currency view themselves, with which to compare against such external views. The view itself is created from the signal grid, incorporating currency economics, technicals, flow analysis and long-term valuation. The currency market practitioner should be aware of all these aspects of the currency to which they are exposed. Not being aware is the equivalent of not knowing the business you are in. In the example I have chosen, we keep the focus on emerging market currencies, this time looking at the risk posed by exposure to currency risk in the countries of Central and Eastern Europe.