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15 Jan 2015
EUR/CHF nose-dives to 0.8500 on SNB
FXStreet (Edinburgh) - The Swiss franc is rapidly appreciating vs. the euro on Thursday following the decision of the SNB to remove the 1.20 peg active since September 2011.
EUR/CHF weaker post-SNB
The Swiss National Bank lowered its interest rate to -0.75% and ended its minimum exchange rate against the single currency, previously fixed at 1.20. The cross reacted accordingly, dropping a staggering 30% to the 0.8600 boundaries.
EUR/CHF at the moment is losing 28.40% at 0.8598
EUR/CHF weaker post-SNB
The Swiss National Bank lowered its interest rate to -0.75% and ended its minimum exchange rate against the single currency, previously fixed at 1.20. The cross reacted accordingly, dropping a staggering 30% to the 0.8600 boundaries.
EUR/CHF at the moment is losing 28.40% at 0.8598