USD/CHF Slips Below 0.7775 as US Yields Drop, Rebound Eyed Above 0.78

USD/CHF has drifted below 0.7775 on May 8 amid retreating US 10-year yields and ongoing US-Iran détente hopes, extending a decline from a two-month low of 0.7766 hit on May 7. The selloff began with Switzerland's stronger-than-expected April manufacturing PMI at 54.5 (vs 52.0) on May 4, followed by CPI accelerating to 0.6% YoY (core 0.3%) on May 5 on 1.5% MoM imported energy surge, reducing SNB easing bets. Risk-on sentiment from US-Iran talks progress, falling oil, DXY at 97.88, and US jobless claims at 200k further pressured the dollar toward 0.7750 support, with analysts watching Friday's US jobs data for reversal cues.