Swiss National Bank says ready to intervene to stem franc's rise

In this article:

ZURICH, March 7 (Reuters) - The Swiss National Bank repeated on Monday its pledge to intervene on the currency markets after safe-haven inflows pushed the Swiss franc above parity in its valuation versus the euro.

"The Swiss franc is currently sought after as a refuge currency, along with the US dollar and the yen," the central bank said in a statement.

"The Swiss franc continues to be highly valued," it added. "The SNB remains prepared to intervene in the foreign exchange market if necessary." (Reporting by John Revill; Editing by Michael Shields)

Advertisement