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Traders are testing the will of the SNB, driving the euro/franc exchange rate to CHF 1.2037, the...

Traders are testing the will of the SNB, driving the euro/franc exchange rate to CHF 1.2037, the lowest level since the bank set a CHF 1.20 floor on the pair last fall. Since that bombshell move, the euro has mostly traded above 1.20 as punters waited for the SNB to raise the floor even higher. With Hildebrand's ouster, 1.20 may look challengeable.
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