SNB Intervened When Trump’s Tariffs Push Sent Franc Soaring

The Swiss National Bank made its most significant sales of the franc in more than three years, acting to stem a surge in the currency caused by Donald Trump’s tariff push.

Switzerland’s central bank purchased foreign exchange worth 5.1 billion francs ($6.4 billion) in the second quarter, according to data published on Tuesday. That’s in line with estimates made by UBS Group AG before the announcement.