Falling euro may be just the beginning of the story

Falling euro may be just the beginning of the story

Early in January, the Swiss National Bank broke its currency’s link with the euro. It came out of the blue and was read by many as a signal that European Central Bank president Mario Draghi was nearing a decision on quantitative easing, the programme

It was also a bellwether of sorts. Immediately afterwards saw a period of turbulence for both currencies, but while the Swiss franc spiked in value before settling into new normal ranges, the euro has simply plummeted. From a onetime high of €1.60 against the dollar, last Friday a euro bought 71 pence sterling and $1.05.

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