In 2015, the Swiss central bank decided to unpeg CHF to EUR and CHF made a huge gap move. It killed many traders. The damage was so extensive that even brokers were killed. What puzzles me is why would traders even get themselves into this trade in the first place? EURCHF did not fluctuate much because CHF was pegged to EUR. Why would anyone want to trade CHF and not EUR, given that EUR was very highly correlated with CHF due to the peg, EUR was more liquid, CHF was more far politically risky because of central bank decision? What did I miss out? Can more experienced forex traders here explain?