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You are a dealer and are long of USD 4 million against CHF at 1.6612. You want to close this position because you expect the

You are a dealer and are long of USD 4 million against CHF at

1.6612. You want to close this position because you expect the

dollar to weaken.

You therefore ask another bank for a USD/CHF price and are

quoted 1.6610/15. You decide that you will deal on this price.

You need to sell US dollars?

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