BREAKING. SNB dropped CHF peg
FXBAZOOKA.com - CHF surged to its strongest level on record against EUR as the Swiss National Bank removed the minimal level for EUR/CHF which used to be at 1.20 since Sep. 2011. The SNB said that the cap on the national currency is no longer justified.
Pressure on the 1.20 level increased in recent months as speculation the European Central Bank was preparing a program of bond buying, or quantitative easing, weakened the euro.