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Swiss central bank readies for FX intervention if safe haven franc strengthens
The Swiss National Bank said on Thursday it is ready to intervene in foreign exchange markets if a rebound in demand for the safe-haven franc drives the currency higher. It came as the central bank left its main policy rate unchanged at 0%, in a move widely expected by markets, keeping borrowing costs well below those seen in other major economies. In a statement, Martin Schlegel, chairman of the SNB’s Governing Board, said the outbreak of the Middle East conflict on Feb. 28 initially heaped upward pressure on the Swiss franc, as investors sought out its safe-haven status. That pressure has since eased, but the SNB ... (full story)
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- Jun 18, 7:36am | 2 hr 27 min ago Posted byFundamental Analysis962
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