USD/CHF back above 0.9000 amid SNB turmoil

FXStreet (Córdoba) - The Swiss franc skyrocketed Thursday as the Swiss National Bank surprised markets and triggered turbulence in the currency market by removing the cap set up in 2011 as it was no longer justified.

USD/CHF crumbled from near 1.0200, and while the low it is still no clear, some brokers quoting levels below 0.7400. The pair has managed to cut losses and climbed back above 0.9000 amid market chatter the SNB was selling francs to help the move.

At time of writing, USD/CHF is trading at 0.9085, still 10.80% lower on the day.