January 2015
Swiss Franc – What Happened? (Bilingual)
Economy Research Reports
Pages : 10
Executive Summary
On January 15 2015 the Central bank of Switzerland abandoned its cap on CHF/EUR conversion which was at SFr 1.2 to the Euro. The abrupt removal of the cap sent the Swiss franc up 30% in an unprecedented swing among ‘reserve’ currencies. The shock could be felt in the swiss stock exchange where the SMI fell 8.7% on back of the news while Euro Fell to a decade low against the US dollar to EUR/USD 1.15, While gold closed at 1279 $/Oz 4% weekly gain.Table of Content
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