The fallout from Switzerland's currency shocker

In the short term there are going to be winners and losers among traders, banks and hedge funds, but the move could have a much bigger impact down the line.

The Conversation

In one of the most remarkable days in the foreign exchange market for at least 20 years, the Swiss franc rose by an astonishing 30 per cent against the euro in a mere five minutes. This is as a result of the announcement of the Swiss National Bank that it was ending its policy of pegging its franc to the euro at a minimum rate of 1.20 Swiss francs per euro.

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