Risk: The Swiss Franc Soars as Investors Wince

Several smaller currency trading firms have gone bankrupt

On Thursday, the Swiss National Bank suddenly stopped its three-year-long policy of buying foreign currencies to cap the Swiss franc at 1.2 euros. Several smaller currency trading firms went bankrupt, and billions in investments were lost around the world.

Take a look at Canadian Business‘s story “Why Switzerland’s currency went crazy yesterday, and why it matters” for an explanation of what happened and why it happened now.

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