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The 3 month interest rate in Swiss is currently (01-2017) about -0.72720%. Meanwhile, the equivalent interest...

The 3 month interest rate in Swiss is currently (01-2017) about -0.72720%. Meanwhile, the equivalent interest rate in England is about 0.37025%.

All rates are annualised. What should be the annualised 3 month forward discount or premium at which the Swiss franc will sell against the pound?

Explain, intuitively and formally.

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