SNB Readiness to Intervene on FX Is Elevated, Martin Tells RTS

The Swiss National Bank maintains an increased readiness to step into currency markets, Vice President Antoine Martin told public broadcaster RTS.

“We have an elevated willingness to intervene in the FX markets,” Martin said in a television interview broadcast on Thursday. “What we have seen since the start of the conflict in Iran is that the Swiss franc has fallen in value. So yes, we are concerned about the strength of the Swiss franc, we have said that we are prepared to take action. But since the start of the conflict, things have gone rather well.”