Is franc strength still a worry?

While Swiss politicians have long railed against the strength of the franc, Finance Minister Ueli Maurer appeared to throw in the towel this week. But we doubt that exporters, which fared very well in Q2, will have to cope with a very strong currency for too much longer – we see the franc depreciating over the next couple of years as the SNB lags the ECB in raising interest rates.

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