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The paper claimed that a lower limit for euro/franc exchanges was being discussed by bank officials.
Industry analysts were quick to point out that a bounded rate target was just speculation at present, but this didn't stop a major sell-off.
Speaking to Reuters, Manuel Oliveri, a currency strategist at UBS, said: "The market now sees the possibility that the Swiss National Bank has a plan and this is making people nervous about the Swiss franc."
Earlier this month, however, the Swiss franc was ascending in value and many Forex traders considered the currency a safe haven for investment.
At the time, Swiss National Bank chairman Philipp Hildebrand said that the institution would take action if the currency continued to strengthen against the euro.
Posted by Greg Secker
