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In sympathy with the dollar recovery...>

DOLLAR-SWISS
DOLLAR-SWISS: In sympathy with the dollar recovery today, USD/CHF continues to
grind to fresh session highs (CHF0.9353 last) and is looking to make a test on
the near-term target of CHF0.9389 (23.6% CHF1.0038-0.9188). Interestingly,
CHF/JPY has barely budged, confirming that today's moves are wholly
dollar-related and may have no wider bearing on risk sentiment. At present,
USD/CHF and USD/JPY are the most correlated they've been for a year after
turning almost completely uncorrelated in September.

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