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Negative interest rates and a central bank that continues to pursue an expansionary monetary policy. A combination of similar elements brings with it in general, and even more so in this period, one strong devaluation of the currency of the country in which it occurs. And if Japan, with its yen, surely knows something, Switzerland, on the other hand, appears to remain immune to this rule and the franc, while losing a few hits on the superdollar, did not drift and indeed maintains the characteristics …