An international group operates in four countries, the US, France, the UK and Malaysia. Its divisions in each country trade with each other. There are large differences between the countries in rates of taxation on corporate profits.

The company's management is reasonably confident that for the next year or so, it can predict which of its operating currencies (US dollars, euros, sterling and ringgitts) will rise in value against the others and which will fall.

Required:

In which currencies might the group's management wish to price intercompany sales within the group?