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Global Macro Funds In Shock After Swiss Decide To Remove Currency Cap

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Markets in Shock After Swiss Decide to Remove Currency Cap

NEW YORK/LONDON (Reuters) – Currency speculators, especially large global macro hedge funds with big short positions in the Swiss franc, are staring massive losses in the face after the Swiss National Bank shocked markets on Thursday by removing a three-year-old cap on the currency. The move sent the safe-haven franc soaring against the euro and the…

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