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Swiss KOF Leading Indicator Dips below 100 for August
The Swiss KOF business sentiment index dipped significantly to 99.8 for August from an upwardly-revised 103.5 in July from the original 102.7 and was significantly below the consensus forecast of 102.2. The data will reinforce National Bank unease over an overvalued franc and reinforce the potential for intervention to prevent renewed currency gains. This was the first reading below the 100.0 level since December 2015 and also pushed the index slightly below its long-term average level. There was a decline in the manufacturing, banking and tourism sectors, which was offset to some extent by improvement in the ... (full story)