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15 Jan 2015
CHF/JPY reaches highest level since 1980
FXStreet (Córdoba) - CHF/JPY rocketed to its highest level since at least 1980 as the franc strengthened sharply following SNB decision to remove EUR/CHF floor.
CHF/JPY staged an outstanding rally and reached the 149.00 area, before pulling back. At time of writing, the pair is trading at 131.45, recording a 14.13% gain on the day.
SNB has abandoned the EUR/CHF 1.20 floor set in September 2011 and shifted policy to negative interest rates. The SNB said that against a backdrop of divergent monetary policies and euro broad weakness, enforcing and maintaining the minimum exchange rate is “no longer justified”.
CHF/JPY staged an outstanding rally and reached the 149.00 area, before pulling back. At time of writing, the pair is trading at 131.45, recording a 14.13% gain on the day.
SNB has abandoned the EUR/CHF 1.20 floor set in September 2011 and shifted policy to negative interest rates. The SNB said that against a backdrop of divergent monetary policies and euro broad weakness, enforcing and maintaining the minimum exchange rate is “no longer justified”.