Swiss franc's staggering ascent to be felt far and wide
Associated Press - Jan 16, 2015
A 30 percent swing in a blink of an eye is not uncommon in the stock market. In the world of currencies, it can seem as rare as Halley's Comet.
But that's what happened to the Swiss franc on Thursday - a stunning move that is likely to hurt the Swiss economy, inject uncertainty in financial markets and even darken the global outlook.
Within minutes of the Swiss National Bank's announcement it was ditching a policy to limit the rise of the currency, the franc had rocketed by about a third against the euro and the dollar. Unprecedented, said analysts.
