Swiss National Bank Intervention Sends Franc Plunging
Thursday, March 12th, 2009
Recap: The Swiss Franc fell heavily after the Swiss National Bank cut rates by 25 basis points and said that they would intervene in currency markets to make sure the Franc does not appreciate further against the Euro. That sent the Franc plunging against its key rivals. With US stocks up, the NY session saw risk appetite in other currency pairs.
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