While we doubt that anything conclusive will be agreed at the EU summit this weekend, the likelihood of a joint fiscal package being signed off in due course is consistent with our view that the Swiss franc will end this year broadly in line with its current level. Next week, the main data release of note is unemployment data from Sweden for June, which are likely to show that the unemployment rate ticked up again. Otherwise, look out for our latest Nordic & Swiss Economics Outlook, which we will publish early in the week.
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