The franc soared by as much as 30% at one point, before settling later in the day at around parity to the euro, still up 20%. It slipped back a touch early Friday, and was trading down about two percent.
Companies, investors and brokers were taken completely by surprise, and many will be struggling to figure out the impact on their businesses. At least two currency traders have gone out of business as a result, and another warned it may not have enough cash to continue.
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