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VIEW: Nordea note that "we have been.....>

EURO-SWISS
EURO-SWISS: VIEW: Nordea note that "we have been on the look for other ways to
reflect our positive view on the "Next Generation EU" debt deal and the
prospects of it being implemented during the German EU presidency in H220. The
most obvious choice is a long EUR/CHF bet (we go long targeting CHF1.1020 with a
stop at CHF1.0480) as it is the pair that most truly reflects/trades the EUR
break up risk premia. Long EUR/CHF should work if the EU agrees on the debt deal
and furthermore it is i) a decent carry trade and ii) has the backing of the SNB
as they intervene below CHF1.0550."
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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