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International Economic and Market Overview Jan 2015
January was an exciting month in the normally staid world of global central banking. On the 15th, the Swiss National Bank (SNB) unexpectedly abandoned its policy of capping the Swiss Franc at 1.20 to the Euro. Only a month ago they said that they would defend the peg with “utmost determination”. The move was a complete shock to the market and the reaction was unprecedented in the currency markets: the Sfr rose to as high as 0.85 against the euro (a 30% appreciation) before dropping back to current level of 0.98. 01_2015_CFAL_International_Economic_and_Market_Overview-1 Click here for full Weekly Market Recap
 

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