Swiss Franc Surges to Record Versus Euro as SNB Opens Floodgates
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It was the most dramatic day of trading for Switzerland’s franc since its neighbors introduced the euro 16 years ago.
The franc surged the most on record and reached its strongest-ever level against the 19-nation shared currency as cash flooded over the border after the Swiss National Bank removed a cap on the currency that had held back inflows for more than three years.