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Rise of Swiss franc exposes limitations of central bank power

Wednesday, August 5, 2015 - 05:50

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The Swiss franc is 12 per cent stronger than the abandoned ceiling and is the best-performing major currency this year. Options imply a 52 per cent chance of it strengthening to one per euro in 12 months.

London

THOMAS Jordan's struggle to control the franc shows just how unforgiving foreign exchange markets can be.

The first two-month drop against the euro since April last year hasn't convinced traders to give up on another rally in Switzerland's currency. Options still show a

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