The Swiss Fed Gives Up

The central bank of Switzerland has spent a ton of money trying not to let the franc fall below 1.20 to the euro. But Mario Draghi is determined to weaken the euro in order to save Europe.

Today, the Swiss finally gave up and abandoned their price cap. This chart tells it all.

The Swiss ETF ($EWL) is doing well today. Until May, EWL had largely kept pace with the American market. But since May, it’s lagged badly. The last few days, however, have been quite good.

Posted by Eddy Elfenbein on January 15th, 2015 at 11:11 am

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