Swatch CEO Speechless As Swiss National Bank Removes Currency Ceiling

The sudden move by the bank came just days before one of the most important tradeshows in the Swiss watch industry, Salon International de la Haute Horlogerie (SIHH), set to open January 19 in Geneva. Sixteen watch bands, the majority of which are owned by Switzerland-based luxury goods holding company Compagnie Financière Richemont, will exhibit.