The Swiss National Bank (SNB) stunned markets on Thursday, when it scrapped its three-year-old peg of 1.20 Swiss francs per euro. Moments after the central banks announcement, the Swiss franc soared approximately 30 percent in value against the euro. The franc broke past parity against the euro to trade at 0.805 per euro, before trimming those gains to trade 13 percent higher at 1.040. The currency also gained 25 percent against the USD before falling back to trade at higher at 0.901 francs per dollar.
Posted on: Fri, 16 Jan 2015 19:30:44 +0000
Trending Topics
Recently Viewed Topics
© 2015