Economics
Franc, New Deutsche Mark, to Stay Strong for Decade, UBS Says
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The Swiss franc will stay strong and investors should hold it as a proxy for the old German deutsche mark as the currency benefits from economic growth and its status as a haven, UBS AG said.
The franc rose, approaching parity with the U.S. dollar, after a report today showed the nation’s gross domestic product increased 0.9 percent from the first quarter, when it gained 1 percent. The figure beat the 0.8 percent gain predicted in a Bloomberg survey.