The Swiss National Bank (SNB) will fight any excessive foreign currency exchange rate rises of the franc against the euro, the bank's chair has confirmed.Published by Zeb BhamA statement from chairman Philipp Hildebrand yesterday reminded the markets that the central bank could take intervening measures if the franc continues its rise against the euro."The SNB will continue to prevent any excessive appreciation of the Swiss franc against the euro," said Mr Hildebrand, the new chairman of the SNB.While the statement led to a slight deprecation in foreign currency exchange rates, analysts believe formal action may have to be taken at some point, as the currency remains well supported, Reuters reports.Mr Hildebrand added that while the SNB does not have an exchange rate target, the bank will keep a close eye on foreign exchange market developments.Analyst for Deutsche Bank Henrik Gullberg told Reuters that the comments from Mr Hildebrand were an initial warning that action could be taken.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site