SNB Intervened When Trump’s Tariff Push Sent Franc Soaring (2)

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.

The interventions mark the end of an effective 15-month hiatus in the SNB’s market interactions, reflecting just how volatile conditions became after Trump’s April 2 announcement of “reciprocal tariffs.” The franc ...