SNB takes ‘Swiss’ action

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The SNB remarkable announcement that it would “no longer tolerate” a rate below CHF 1.2 versus the euro has caused a 8.43% jump in the euro, 7.65% jump in the dollar and an incredible 8.73% lift in sterling versus the Swiss franc. However, sterling has dropped 0.5% against euro and 0.37% against the dollar this morning as investors view sterling as the weaker of the three currencies to back.

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SNB takes ‘Swiss’ action

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