The Swiss National Bank stands ready to defend its cap on the franc by buying unlimited quantities of euros or taking other, undisclosed steps, a central bank board member said on Thursday. The franc-euro exchange rate is hovering close to the 1.20 per euro floor set by the Swiss central bank in 2011, when the currency's strength was squeezing exporters and threatening deflation. "The SNB will continue to enforce the minimum exchange rate with the utmost determination," SNB board member Fritz Zurbruegg told a business audience in Geneva according to prepared remarks. "To this end, it is prepared to purchase ... (full story)