Reuters: US Dollar Report: SNB's Jordan: euro zone crisis easing, less franc pressure

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SNB's Jordan: euro zone crisis easing, less franc pressure Sep 13th 2012, 11:23 ZURICH, Sept 13 | Thu Sep 13, 2012 7:23am EDT ZURICH, Sept 13 (Reuters) - Swiss National Bank Chairman Thomas Jordan said recent developments suggest the euro zone crisis is easing, helping take some pressure off the safe-haven franc. In interviews with Swiss radio and television, Jordan highlighted moves by the European Central Bank to buy government bonds and Wednesday's decision by Germany's constitutional court to allow Berlin to ratify the euro zone's permanent rescue fund. "If the European Central Bank and European governments correctly implement these instruments, then we can expect it will help to ease the situation and help the policy of the national bank," Jordan said. After its quarterly meeting on policy, the SNB reiterated its determination to defend a 1.20 per euro minimum exchange rate and take further measures if necessary to stop the franc rising to protect the economy. "We don't give any information on interventions but if you look at the exchange rate you can see that the pressure is less than it was," he said.

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