Thursday, May 6, 2010

EUR/CHF plunges from 1.4320 to 1.4205

The Euro has collapsed more than 100 pips in a matter of minutes, dropping from 1.4320 area to a fresh one-month low at 1.4205, after the SNB abandoned its policy against a strong Swiss Franc, according to market sources.

As usual, the Swiss National bank has not given any details about its activities in currency markets.

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