SNB intervened in the forex market – SNB’s Jordan

FXStreet (Mumbai) – The Swiss National Bank chief Jordan confirmed that the bank intervened in the FX markets on Monday as the Swiss Franc faced the risk of appreciation due to safe haven appeal.

Jordan refrained from letting out the details of the intervention. He said the bank is prepared for Grexit, while adding that the default would be extremely difficult situation for the Greek banks.

Jordan and his fellow policy makers at the SNB always expressed readiness to intervene in the FX markets if required. The intervention today was mainly to stem the rise in the CHF due to the Greece led risk aversion across the globe.

The Swiss National Bank chief Jordan confirmed that the bank intervened in the FX markets on Monday as the Swiss Franc faced the risk of appreciation due to safe haven appeal.

(Market News Provided by FXstreet)