• GOLD VS OIL 22.1346 03:30 24.02
  • SSE180 VS CSI300 2.1859 03:30 24.02
  • TENCENT HOLDINGS 211.900 03:30 24.02
  • SHANGHAI COMPOSITE 3241.947 03:30 24.02
  • CSI 300 3463.797 03:30 24.02
  • HANG SENG F-JAN17 24040.000 03:30 24.02
  • ASX F-MAR17 5713.500 03:30 24.02
  • ASX 5742.500 03:30 24.02
  • SSE180 7571.410 03:30 24.02
  • HANG SENG 24012.350 03:30 24.02
  • AUD/CAD 1.01035 03:30 24.02
  • NZD/JPY 81.437 03:30 24.02
  • EUR/AUD 1.37232 03:30 24.02
  • CAD/JPY 86.069 03:30 24.02
  • AUD/JPY 86.965 03:30 24.02
  • GBP/JPY 141.560 03:30 24.02
  • USD/SGD 1.40747 03:30 24.02
  • NZD/USD 0.72203 03:30 24.02
  • EUR/USD 1.05810 03:30 24.02
  • EUR/JPY 119.341 03:30 24.02
  • AUD/USD 0.77105 03:30 24.02
  • USD/JPY 112.790 03:30 24.02
  • OIL-MAR17(WTI CRUDE) 53.980 03:30 24.02

USD/CHF

USD/CHF: The U.S Dollar and The Swiss Franc

The USD/CHF currency pair (with the USD as the base currency and the CHF as the quote currency) is the official currency of Switzerland. Nicknamed the ‘Cheffie’, as of April, 2013, the Swiss Franc accounted for more than 5.2% of the daily foreign exchange turnover ranking 6th behind the AUD. The Swiss Bank, Switzerland UBS AG, accounts for 10.9% of the Daily Forex Volume. The Swiss Franc is also considered a ‘reserve’ currency.

Nicknamed the Swissie, the Swiss Franc accounts for more than two percent of the daily turnover of the entire Foreign Exchange Market. Since 1998 when the NZD was ranked 17th, it has climbed steadily to reach the recent rank of 10th on the Forex’s daily turnover following behind the Chinese Yuan.

History of the Swiss Franc

The Swiss Franc, controlled and administered by the Swiss National Bank, was originally established on May 7th, 1850. In the 1920’s, the Swissie was backed by a 40% gold reserve, a legal requirement, which was ended in the year 2000. Switzerland still has over 20% gold reserves relative to the Franc monetary supply. Once considered a safe haven currency, the Swiss Franc no longer holds this distinction.

The Swiss Economy

Switzerland has a Gross Domestic Product of approximately $363 Billion and ranks as the 4th largest trading partner in the European Union. The major sectors comprising the GDP are services, industry and agriculture. Its main industries and major exports are banking, tourism, chemicals, watches, textiles and machinery.

Factors Affecting the USD/CHF currency pair

Obviously, fluctuating commodity prices has an effect. Although Switzerland remains politically and economically neutral, any political unrest or change in the Eurozone has an impact. This pair has major movement during the Australian / Asian open and the European trading session.

Main export partners
Germany 19.7%
United States 11.6%
Italy 7.1%
France 6.92%
United Kingdom 5.3%

Main import partners
Germany 29.6%
Italy 9.8%
France 8.0%
United States 5.12%
China 5.3%
Austria 4.4%

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