SNB's Jordan: central bank will remain active in FX exchange markets to influence monetary conditions if necessary

FXStreet (London) - Speaking at a press conference following the Swiss National Bank’s decision to remove the CHF1.200 floor from the EURCHF pair, SNB chairman Thomas Jordan has said that the central bank will remain active in FX exchange markets to influence monetary conditions if necessary.

Jordan said that it was the right time to end the cap but that it had served its purpose to lessen upwards pressure on the franc.