July 2 (Bloomberg) -- The Swiss franc declined against the euro and the dollar after central bank governing board member Thomas Jordan said officials stand ready to intervene to prevent an appreciation of the currency.

The franc weakened as much as 0.3 percent against the common European currency as Jordan repeated the Swiss National Bank isn’t targeting a precise level for the currency. It dropped as much as 2.4 percent on June 24 on speculation policy makers intervened.

“The SNB will continue to weaken the Swiss franc,” said Paul Robson, a currency strategist in London at Royal Bank of Scotland Group Plc. “You always have to take the SNB seriously on the franc. They’ve backed it up with fiscal intervention and we would expect them to continue.”

The franc weakened 0.2 percent to 1.5232 per euro as of 10:42 a.m. in Zurich. Against the dollar, the franc declined 0.5 percent to 1.0806.

SNB policy makers sold the franc and cut interest rates on March 12 to stem the currency’s gains amid a deepening recession. The euro rose 3.4 percent against the franc that day.

To contact the reporters on this story: Gavin Finch in London at gfinch@bloomberg.net; Anna Rascouet in London at arascouet@bloomberg.net

Last Updated: July 2, 2009 04:55 EDT