SNB chairman Schlegel: Ready to intervene in currency markets as necessary

• Swiss franc is a safe haven, it appreciates in times of uncertainty
• SNB ready to intervene in currency markets as necessary
• Ready to react to pressure on the franc as well

With EUR/CHF keeping closer to the lows for the year, it is telling of market sentiment regarding the franc. And that is despite the SNB being ahead of the curve in cutting rates before the other major central banks this year. Schlegel’s remarks are not anything new though but he did earlier in the day say that they are prepared to cut rates further again if need be.

This article was written by Justin Low at www.forexlive.com.