Swiss franc reigns supreme, makes historic rally

New York

THE Swiss franc gained against every currency on earth after an unexpected decision by the Swiss National Bank (SNB) to abandon the currency's cap versus the euro drove one of the biggest shakeups in foreign-exchange history.

The euro dropped the most against the franc since the common currency's 1999 inception as the SNB's decision boosted speculation the European Central Bank will announce additional stimulus measures when it meets on Thursday.