The Swiss National Bank sold francs to counter a currency surge driven by safe-haven demand from US-Israeli strikes on Iran, with rates held at 0%.

(Bloomberg) -- The Swiss National Bank sold francs in the first quarter, intervening to stop the currency’s surge when the US and Israel started to attack Iran.

SNB intervenes to stabilize the franc amid ongoing conflict. Military strikes by France, UK, or Germany on Iran by June 30 at 0.1% YES.