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USD/CHF from 0 Pips

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The Swiss franc is one of five Major currencies. However, this isn't because of its trading volumes: USD/CHF accounts for just 4% of global foreign exchange volumes (less then than USD/GBP, USD/AUD or even the USD/CAD currency pairs).

A safe haven currency

Instead, the Swiss franc acts as a safe haven - a currency that investors turn to as a store of value rather than a source of capital appreciation at times of market turmoil. For example, the Swiss franc appreciated by 15% against the Dollar from 1.1964 on July 1st to 1.3779 on August 11th following the downgrade of the United States' credit rating by Standard & Poor's.

As good as gold?

Switzerland's neutrality, stable political system and secretive banking system make Switzerland a popular destination for risk-averse investors. However, the currency's long standing ties to gold also explain its role as a store of value. Formerly, the Swiss National Bank (SNB) was required to redeem banknotes into gold on request. Until 1997, the Swiss constitution required that at least 40% of the currency be backed by gold reserves. Since, a constitutional amendment lowered the threshold to 25% and the bank's gold reserves have fallen. However, the Swiss franc maintains to this day a strong positive correlation with gold. When the price of gold rises, the Swiss franc is likely to appreciate in response.

Latest news

USD/CHF Daily Forecast DailyForex.com

The USD/CHF pair tested the resistance zone at around the 1.0110 level last week as the dollar strengthened on the back of better-than-expected economic data. Although the failure to breakthrough this barrier dragged prices back to the 0.9960/45 area ... More »

USD/CHF: Range Trade? Investing.com

Currently we are at 1.0102 in a range and in a bullish channel. We are looking to continue to the 0.382 Fibo at 1.0160 with another target at 1.0241. The average daily true range (ATR) for the pair currently is 55 pips. USD/CHF 240 Minute Chart. USD ...and more » More »

USD/CHF Approaching Important Resistance Economic Calendar

As a result of today's move to the upside in USD/CHF, important resistance at last week's high is now within striking distance. This high stands at the 1.0119 level. Clearing this level on a sustained basis would resume the recovery from the low ... More »

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