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      EUR/CHF purchasing power parity well above 1.20 – Swiss Economic Minister

      FXStreet (Mumbai) - The Swiss Economic Minister was on the wires today stating the purchasing power parity of the EUR/CHF is well above 1.20 and the Swiss National Bank (SNB) is working towards the same.

      Key Quotes

      Strong franc endangers price stability

      Certain risk of deflation

      It is clear that Switzerland remains an attractive place to do business

      European stocks rise, ignore China data

      The stock markets in Europe strengthened moderately on Wednesday despite the slump in the Asian markets on the back of a weak China manufacturing data.
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      USD/JPY: Bulls fight back control, testing highs near 120.30

      The US dollar remains better bid versus its Japanese counterpart in the European session, as the USD bulls managed to regain control on improving risk sentiment.
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