SNB ready to intervene in FX markets if needed after US election

The Swiss National Bank stands ready to intervene in the currency markets if the outcome of the U.S. election triggers a rush into the safe haven currency, governing board member, Andrea Maechler said Monday.

According to Reuters, Maechler declined to comment on the outcome of the election or how it would affect the Swiss franc or financial markets, but "the uncertainties are large.”

"What I can say is just like with the Brexit vote, we are ready," Maechler said. "My team is prepared and the Swiss National Bank will be there, if necessary, to intervene to stabilize the currency markets."