EURCHF News by Newsroom on 07:36 January 15, 2015 EST
The Swiss central bank protected for four years and until today the crown from further appreciation against the single currency in a bid to maintain Swiss products competitive in the European and world markets after a never ending appreciation of its currency.
This unexpected move got EURCHF and USDCHF out of control. EURCHF has depreciated almost to parity lossing in a minute around 18% of its value and is trading at the moment of writing at 1.02. The buck shed 17% of its value against the crown and trades at 0.87.