The Swiss National Bank unexpectedly scrapped its cap on the franc to fight recession and deflation threats, after investors fleeing the euro zone crisis pushed the currency to record highs. Minutes after the announcement the franc had soared by almost 30% in value against the euro, sending the safe-haven currency crashing through the 1.20 per euro limit it introduced on Sept. 6, 2011. The euro is now down 13.9% against the franc at $1.0345.