EURCHF collapses as SNB gives up on 1.2000

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Crazy price falls in an instant as the SNB decides to remove the CHF cap at 1.2000 and cut interest rates further

EURCHF posts lows of  0.9270.. yes 0.9270 as the world and him mum bails out

USDCHF also collapses to 0.8400 down 12% and dragging EURUSD down to 1.1575 before recovering

EURGBP down to 0.7678 from 0.7725

The talk was all about the SNB having to defend the cap.. Now that question no longer needs to be asked

The danger of relying on them to bail out EUR longs has been discussed on these pages for a long time now




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