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News Swiss Move Roils Global Markets

  1. Jan 15, 2015 #1
    http://www.wsj.com/articles/switzerland-scraps-currency-cap-1421320531
    http://www.bloomberg.com/news/2015-...roker-closes-on-losses-after-swiss-shock.html
    A news report about the NZ based dealer going out of business is available - http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11387361
     
  2. jcsd
  3. Jan 16, 2015 #2

    Astronuc

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    The Swiss Franc is the sixth most-traded currency on the planet, and it exploded in value this morning by 15 percent.
    http://www.marketplace.org/topics/world/swiss-national-bank-gives-ghost

    Swiss franc jumps 30 percent after Swiss National Bank dumps euro ceiling
    http://www.reuters.com/article/2015/01/15/us-markets-franc-idUSKBN0KO16Y20150115
    (Reuters) - Switzerland's franc soared by almost 30 percent in value against the euro on Thursday after the Swiss National Bank abandoned its three-year old cap at 1.20 francs per euro.

    Apparently the Swiss government printed about 500 billion francs in 2011- and when the Euro gets in trouble, people buy Swiss francs.

    It's nice to be wanted.
     
  4. Jan 16, 2015 #3

    Vanadium 50

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    People call the CHF the "Euro without Greece".
     
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