16.01.2015 - Swiss Currency Has Shot Up 15% So Far Today. Here’s Why That Matters
Chaos in the currency market is a sign of deep problems for Europe—and the whole global economy. The global economy got a lot more interesting today, and maybe a little more scary, when the Swiss National Bank ended its commitment to a fixed exchange rate between the Swiss Franc and the euro. Currency markets went into a frenzy. The Swiss franc immediately rose 30% in value against the euro, mirrored by a spike in its U.S. dollar value. Some of those gains have pulled back, with the currency up about 15% at midday. That’s still a huge move...............................................Full Article: Source
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