The Swiss National Bank on Thursday unexpectedly reversed course on a policy designed to cap the Swiss franc against the euro. The move is designed to bolster the Swiss currency against other foreign markets ahead of any quantitative easing efforts by the European Central Bank.
CurrencyShares Swiss Franc Trust
The CurrencyShares Swiss Franc Trust (NYSE: FXF) certainly reacted with the desired effect by shooting over 16 percent higher intra-day. This marked the largest single day advance in the history of this currency-based ETF.
Prior to this announcement, FXF had fallen to its lowest levels in more than three years and lost more than 10 percent in 2014. ...
/www.benzinga.com/markets/bonds/15/01/5151580/swiss-etfs-react-to-currency-news alt=Swiss ETFs React To Currency News>Full story available on Benzinga.com
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