The Swiss Franc Unplugged
b'with Mike Santoli, Senior Columnist at Yahoo Finance, Veteran Financial Journalist
While an integral part of Europe, Switzerland prizes its independence and abstained from joining the European Union. Instead, it pegged its currency at 1.20 Swiss Francs to the Euro, without adopting the Euro as its currency. But, on January 15, 2015 \\u2013 overnight and without warning - the Swiss Central Bank abandoned its three-year old peg and decided to let market forces control the strength of its currency \\u2013 and the Swiss Franc soared in value against the Euro and the US Dollar.
Now, while the Franc\\u2019s strength is great for the Switzerland\\u2019s balance sheet, it does make Swiss exports a lot more expensive. And while Americans are unlikely to suffer significantly from this move, countries in Europe \\u2013 specially debtor countries whose borrowings are pegged to the Swiss Franc \\u2013 will be hugely impacted. Tune in to find out why, and get Mike\\u2019s take on where US markets are headed in 2015.'