jeudi 15 janvier 2015
Asia shares wobble as Swiss move heightens volatility
Posted on 18:39 by nice news
Asian shares stepped back on Friday and major currencies mostly stuck to late U.S. levels as investors caught their breath, after Switzerland's unexpected move to abandon its currency cap jolted markets already roiled by plunging commodities prices.
The euro suffered its biggest one-day drop against the Swiss franc in history and skidded to an 11-year low against the U.S. dollar after the Swiss National Bank (SNB) suddenly ditched its commitment to keep its franc above 1.20 per euro.
Investors took this as a sign that the European Central Bank would launch large-scale bond buying next week, as many had already expected.
"Volatility has been on the rise since the beginning of the year and the SNB's announcement adds to the growing list of developments that could trigger greater volatility in the financial markets," Kathy Lien, managing director at BK Asset
The euro suffered its biggest one-day drop against the Swiss franc in history and skidded to an 11-year low against the U.S. dollar after the Swiss National Bank (SNB) suddenly ditched its commitment to keep its franc above 1.20 per euro.
Investors took this as a sign that the European Central Bank would launch large-scale bond buying next week, as many had already expected.
"Volatility has been on the rise since the beginning of the year and the SNB's announcement adds to the growing list of developments that could trigger greater volatility in the financial markets," Kathy Lien, managing director at BK Asset
Asia shares wobble as Swiss move heightens volatility
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