The Swiss National Bank (SNB) said in a statement on Monday, it “remains prepared to intervene in FX market if necessary” when asked about the exchange rate value.
Additional takeaways
Franc is currently sought after as a refuge currency.
Franc appreciation also reflects the inflation differential between Switzerland and other countries.
The franc continues to be highly valued.
SNB looks at overall currency situation.
Individual currency pairs do not play a special role.
These comments come after EUR/CHF hit parity on Friday, the first time since the central bank abandoned the cap on the currency's value against the euro in 2015.
Market reaction
EUR/CHF was last seen trading at 1.0034, up 0.25% on the day while USD/CHF is rallying 0.82% to trade around 0.9240.
