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Swiss SVME PMI jumps more-than-expected in February

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Forex Pros - Manufacturing activity in Switzerland rose significantly more-than-expected in February, industry data showed on Tuesday.

In a report, the Swiss SVME purchasing managers' association and Credit Suisse said that its purchasing managers' index rose to a seasonally adjusted 63.5 in February, up from 60.5 in January.

Analysts had expected the index to rise to 60.7 in February.

On the index, a reading above 50.0 indicates expansion, below indicates contraction.

Following the release of the data, the Swiss franc was down against the U.S. dollar, with USD/CHF gaining 0.12% to hit 0.9300.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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