Swiss franc soars after chaotic end to euro cap

Why market turmoil followed decision to lift system pegging value of Swiss franc to the euro

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The Swiss franc has leapt by almost 30 per cent after the country's central bank surprised markets by scrapping a cap on its value against the euro.

Analysts said that the move would hurt Swiss exporters, damage the country's economy and increase the risk of deflation in an economy that is already struggling to grow.

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