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Investors have been pouring cash into Swiss stocks in the hope that this export-focussed market will outshine its peers, in part thanks to a shift in central bank policy that could knock the franc further off 2023's multi-year highs. Analysts say this quarter will probably remain tough for exporters with the franc still trading at elevated levels, but expectations this might change soon are already setting the tone for the market. Currency strength was part of the problem, as many large Swiss firms make much of their revenues abroad, but report earnings and pay some costs in francs, meaning their overseas revenues shrink after being converted.
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