Swiss franc rallies as SNB shows no sign of euro peg

swiss-national-bank-zurich

The Swiss franc gained sharply against the euro at the beginning of trade on Wednesday after the Swiss central bank announced a further round of quantitative easing, quelling recent speculation of a peg to the single currency.

On Wednesday, the Swiss National Bank (SNB) injected a further Sfr80 billion ($101.8 billion) of liquidity into money markets, the third time in a month the central bank has moved to curb gains in the Swiss franc.

However, rather than depreciating against the euro, the

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