Official: SNB is still willing to be active on the forex markets

The Swiss National Bank is “still willing” to be active on the foreign currency markets in pursuing its goal of price stability, Vice Chairman Martin Schlegel said on Monday.

“If the Swiss franc depreciates we are ready to sell foreign exchange, if the Swiss franc appreciates strongly we are willing to buy foreign exchange,” Schlegel told an event in Warsaw.

There has been a break in the structure, BoS, below 0.9250 and should the bears commit, a move to test 0.9200 could be in order for the coming sessions.

Key Quotes

”We are still willing to be active on the forex markets.”

”If the swiss franc depreciates, we are ready to sell forex. if it appreciates strongly we are willing to buy forex.”