Swiss franc rallies as SNB shows no sign of euro peg
The Swiss franc gained sharply against the euro at the beginning of trade on Wednesday after the Swiss central bank announced a further round of quantitative easing, quelling recent speculation of a peg to the single currency.
On Wednesday, the Swiss National Bank (SNB) injected a further Sfr80 billion ($101.8 billion) of liquidity into money markets, the third time in a month the central bank has moved to curb gains in the Swiss franc.
However, rather than depreciating against the euro, the
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