USD/CHF Climbs Beyond Mid-0.7800s to 1.5-Week High on Hormuz Risks

USD/CHF has pushed beyond the mid-0.7800s to a fresh 1.5-week high on April 23, extending gains for a third straight day amid persistent Strait of Hormuz risks, Iranian vessel attacks, and US naval blockade bolstering USD safe-haven demand. The pair plunged ~0.8% to 0.7800 on April 17 after Iran's Hormuz reopening crashed WTI nearly 10% and fueled risk-on flows, with DXY dipping to 98.00. It rallied +0.13% to 0.7830 by April 20 on renewed US-Iran tensions lifting gold +1.8% and DXY to 98.40, but consolidated near 0.7800 through April 21 awaiting ceasefire remarks, with volumes 15% above average and SNB intervention risks in play.