USD/CHF Dips to 0.7790 as Risk Sentiment Overshadows UBS CHF Weakness Rally Call

USD/CHF slid to around 0.7790 on May 6, down 0.50%, driven by improved risk sentiment from US-Iran talks and strong ADP payrolls (+109K), reducing safe-haven flows despite firmer Swiss inflation at 0.6% YoY and UBS's outlook for rallies to 0.80 amid CHF weakness versus pro-risk currencies like AUD, BRL, NOK. The pair breached 0.8500 support on May 4 after Commerzbank highlighted SNB's limited tools, needing ~50 billion CHF interventions for lasting weakness versus recent 'few billion' efforts. It edged lower to 0.7830 on May 5 with subdued CPI (+0.3% MoM, 0.6% YoY) and UBS's year-end target of 0.78.