The Swiss Franc is surging this morning against the dollar and euro following comments by the SNB President on FX intervention. Notably Jordan's comments come as EURCHF nears its pre-peg-break "carnage" levels.

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Swiss National Bank President Thomas Jordan says interventions needed for adequate monetary conditions, according to interview with CNBC... and that sparked a plunge in EURCHF (Swiss strength)...

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So what next for the Euro and the Franc?

How long before China does the same?

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