USDCHF definition

USD/CHF is the exchange rate between the US dollar and the Swiss franc, showing how many francs one dollar will buy. It is one of the majors, at about 4.9% of the roughly $9.6 trillion that changes hands in the global forex market each day (BIS Triennial Survey, 2025), which gives it strong liquidity and tight spreads. The pair is widely known as the "Swissie".

The US dollar is the base currency and the Swiss franc the quote currency, so a quote of 0.8800 means one dollar is worth 0.8800 francs. A rising price means the dollar is strengthening against the franc, a falling price the reverse. You trade USD/CHF as a forex CFD, betting on the price rather than buying francs outright: go long if you expect the dollar to rise, short if you expect it to fall. Pips are read at the fourth decimal place, and your result is the pips gained or lost multiplied by your position size, settled in francs.

The franc's defining trait is its safe-haven status, so USD/CHF often falls when markets turn fearful and money flows into Switzerland, even when US news is neutral. The Swiss National Bank is the other key influence and has a history of intervening to keep the franc from rising too far, while the Federal Reserve sets the tone for the dollar side of the quote.