Swiss franc jumps 30 percent after SNB dumps euro ceiling

Switzerland's franc soared by almost 30 percent in value against the euro on Thursday after the Swiss National Bank abandoned its three-year old cap at 1.20 francs per euro.

In a chaotic few minutes on markets after the SNB's announcement, the franc broke past parity against the euro to trade at 0.8052 francs per euro before trimming those gains to stand at 1.0350 francs.

It also gained 25 percent against the dollar to trade at 0.8900 francs per dollar.