FRANKFURT (MarketWatch) -- The interim head of the Swiss National Bank reiterated a warning Tuesday that the cental bank will intervene heavily at any time if needed to defend a cap on the value of the Swiss franc versus the euro. The SNB last year declared that it wouldn't allow the euro to trade below 1.20 francs. "This commitment applies at any time, from the moment the markets open in Sydney on Monday to when it closes in New York on Friday," said Thomas Jordan, in remarks prepared for delivery in Geneva. "We will not tolerate any trading below the minimum rate in the relevant interbank market. To enforce this policy, we are prepared to buy foreign currency in unlimited quantities if necessary," he said, adding that the SNB was ready to take further measures "if the economic outlook and the risk of deflation so require." The euro traded at 1.2071 francs in recent action, up 0.1%.

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FRANKFURT (MarketWatch) -- Industrial output in Germany unexpectedly plunged by a seasonally-adjusted 2.9% in December, the economics ministry reported Tuesday, after an upwardly-revised reading of unchanged in November. Economists had forecast a 0.2% monthly rise.

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