Swiss National Bank’s decision to reverse its August 2011 decision – that had established a floor for franc against the euro at 1.20 level – sent the waves of ripples across the global markets. The franc immediately appreciated 14% against the euro and 13% against the US dollar and the British pound. The Swiss Market Index (SMI), made up of…
The Swiss National Bank (SNB) shocked the world with its decision to remove the Euro floor. The franc declined over 15% versus the Euro. Since August 2011, the SNB had been defending the EUR/CHF exchange rate at 1.20 level. It decided to do that after the EU fell in grips of various crises and the franc appreciated 40%…
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