MW: Swiss central bank intervened to stabilize franc amid Greek concerns
ZURICH—Switzerland’s central bank intervened in the currency markets Sunday night to stabilize the strong franc after the concerns over Greece’ potential exit from the eurozone triggered renewed buying of the Swiss currency.
Thomas Jordan, Chairman of the Swiss National Bank’s governing board, said the bank had been active in trying to stabilize the franc USDCHF, -0.1072%
“It is currently a very difficult situation and we are observing developments very closely,” Mr. Jordan said, referring to Greece’s financial troubles and the pressure it is placing on Switzerland’s currency, he said.
Speaking at an event in the Swiss capital Bern, he declined to give details about the scale of the SNB’s intervention, or whether it was the first move by the bank in the forex markets since Jan. 15, when it scrapped a cap on the franc’s value.
An expanded version of this report appears on WSJ.com
