Prices of hedging contracts against a sharp rise in the euro versus the Swiss franc surged on Thursday in Asia as investors speculate that the Swiss National Bank will strengthen its cap on the currency later in the day. Markets anticipate that the SNB may raise the euro's trading floor against the franc from the current CHF1.20 to CHF1.25 or even CHF1.30, traders said. It remains uncertain whether the SNB will beef up its currency measure, traders said, and that uncertainty has sent prices of euro/franc options sharply higher. "Franc options today, especially one-day contracts, are ridiculously expensive," said a ... (full story)