Ed Huntress wrote:

Push broaches are usually located with their own guides, but they can be
free-floating in jobs for which precise location is not important. In the
case of a an old wrench, it could be free-floating. The punched hole was
close enough.

Thanks. It's interesting to know that you can get both kinds. Looking at
the wrench, the hole appears to be quite precisely located, so I imagine
there was some kind of guide.

The hole is undersize, not oversize. The leading end of the broach is
undersize, and then the teeth progressively cut the hole to size.

I meant oversize relative to the small end of the broach, not the
finished hole.

Best wishes,

Chris