Senior Swiss National Bank officials indicated that although the Swiss franc has retreated from a decade high, the bank remains highly prepared to intervene by selling the franc if necessary.
“With the escalating situation in the Middle East, upward pressure on the Swiss franc has intensified again,” said Swiss National Bank Governor Martin Schlegel in Zurich. “Therefore, we have increased our readiness to intervene in the foreign exchange market.” His remarks followed similar comments from another member of the interest rate-setting committee, Petra Tschudin.

Senior Swiss National Bank officials indicated that although the Swiss franc has retreated from a decade high, the bank remains highly prepared to intervene by selling the franc if necessary. Governor Schlegel noted that with the escalating situation in the Middle East, upward pressure on the Swiss franc has intensified again, prompting an increased readiness for intervention in the foreign exchange market. Another member of the interest rate-setting committee, Petra Tschudin, echoed similar views

SNB Official: Readiness for FX Intervention Increased