Swiss franc surges nearly 30% after abandoning Euro cap

Discussion in 'Forex - Currencies Forums' started by zenfive, Jan 15, 2015.

  1. zenfive

    zenfive Member

    Jan 2015
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    The Swiss National Bank has unpegged the CHF from the Euro, thus removing the cap that was placed due to this, and as a result it has soared over the past day or so. News outlets are reporting that this has been done in anticipation of the ECB's quantitative easing scheme that could be introduced by next Thursday. The Swiss franc went from 1.2 to around just over 0.8 to the euro, but was now at around 1.05 during the mid-morning trades.

    Do you think this was a good idea, or will this just backfire on them?

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