Swissie stays stable
The past week brought an interesting array of data on the Swiss economy, although our outlook for the franc versus the euro remains unchanged. The decline in the Kof survey (a Swiss business sentiment meaure) indicated that weakness within the Swiss economy is following the downward path of Europe, but due to the orientation towards trade the Swiss economy is basically stagnant.
Inflation data indicated a surge in prices, but this is due to a cyclical blip in the series. The increase to 1.2%
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