Swiss National Bank reconfirms with U.S. it doesn't seek competitive edge via forex

ZURICH (Reuters) -The Swiss National Bank, the Swiss Finance Ministry and the U.S. Treasury Department have reconfirmed they do not target exchange rates for competitive purposes. A joint statement "confirms that foreign exchange market interventions are an important monetary policy instrument for the SNB in ensuring appropriate monetary conditions and thus meeting its statutory mandate with respect to price stability," the SNB said on Monday. The SNB has regularly denied being a currency manipulator after the United States added Switzerland to a list of countries being monitored for unfair currency and trade practice in June. (Reporting by John RevillEditing by Dave Graham)

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