SNB: We could intervene against excessive appreciation in Swiss Franc

The Swiss National Bank (SNB) said during European trading hours on Monday that it could intervene in the foreign exchange market in an attempt to ease excessive appreciation of the Swiss Franc.

Comments

In view of the international situation, we are more prepared to intervene in currency markets.

We are ready to intervene in the foreign exchange market to dampen a rapid and excessive appreciation of the Swiss Franc.

Market reaction

The Swiss Franc (CHF) has reacted negatively to SNB's comments. As of writing, USD/CHF trades 0.5% higher to near 0.7730.