USD
CHF
What USD/CHF is
USD/CHF is the price of one US dollar in Swiss francs. The US dollar is the base currency (the one you buy or sell). The Swiss franc is the quote currency (the one the price is shown in). Traders often call the pair "the dollar franc" or "the Swissie".
When the quote rises, one dollar buys more francs: the dollar has strengthened against the franc, or the franc has weakened. When the quote falls, the opposite has happened.
USD/CHF is one of the major pairs, the most traded pairs that include the US dollar. For how majors differ from minors and exotics, see Majors, minors, exotics.
Reading the quote: bid, ask, pip
Your platform shows two prices:
- Bid: the price at which you can sell.
- Ask: the price at which you can buy.
- Spread: the gap between them. It is a cost you pay on every trade.
A pip is the standard unit of price change for a currency pair. For USD/CHF, it is the last but one decimal shown in MetaTrader. Most platforms also show one extra decimal, called a pipette (a fraction of a pip).
Pip value is how much one pip is worth for your position size. Because the franc is the quote currency, the pip value is calculated in CHF first. It is then converted into your account currency at the current rate. This means the pip value in USD or PKR changes slightly as the USD/CHF price moves. Use the calculator below to get the pip value for your lot size in CHF and in your account currency.
Fill in the empty fields to see the result.
What moves the US dollar side
- Fed policy. The US Federal Reserve sets US interest rates. Rate decisions, the press conference and the "dot plot" all affect the dollar. The dot plot is the chart of Fed members' rate projections. Markets compare these signals with what they already expected.
- US jobs (NFP) and inflation (CPI). Non-farm payrolls and the consumer price index can cause sharp, fast moves when they are released.
- Treasury yields. Higher US government bond yields tend to support the dollar. Falling yields tend to weigh on it.
- Global risk appetite. In periods of stress, money can flow into both the dollar and the franc. This can make the reaction of USD/CHF less clear-cut than for other dollar pairs.
What moves the Swiss franc side
- SNB policy. The Swiss National Bank sets Swiss rates. It has a history of intervening in currency markets to limit franc strength. Statements about interventions can move the pair on their own.
- Safe-haven flows. The franc is widely treated as a safe-haven currency. During geopolitical or financial stress, demand for CHF often rises.
- Euro-area spillovers. Switzerland trades heavily with the euro area, so euro-area news often reaches the franc through EUR/CHF. See EUR/CHF and Pair correlations. USD/CHF often moves roughly opposite to EUR/USD, but this link is not fixed.
For the general method behind reading these drivers, see Fundamental analysis. A useful USDCHF analysis looks at both central banks, not only one.
Liquidity by session and spread behaviour
- Asian session: usually thinner trading in USD/CHF. Spreads can be wider and moves smaller, unless there is news.
- European session: liquidity improves as Swiss and euro-area markets open.
- London–New York overlap: usually the deepest liquidity of the day, and often the tightest spreads.
- Daily rollover and weekend open: spreads often widen and prices can gap.
- High-impact news (Fed, SNB, NFP, CPI): spreads can widen sharply and orders may fill at a different price than expected.
At Exness, orders opened from 15 minutes before to 90 seconds after high-impact news are subject to higher margin requirements (HMR). During HMR, forex leverage is limited to 1:200 (0.5%). Check the economic calendar before you trade around releases.
USD/CHF conditions at Exness
The figures below come from Exness account pages. Instrument details can change, so check the USDCHF specification in your platform before trading. This includes the contract size, the exact spread and the swap.
| Account | Spread | Commission | Margin call / stop out |
|---|---|---|---|
| Standard | From 0.2 pips | No commission | 60% / 0% |
| Standard Cent | From 0.3 pips | No commission | 60% / 0% |
| Pro | From 0.1 pips | No commission | 30% / 0% |
| Raw Spread | From 0 pips | Up to 3.50 USD each side per lot | 30% / 0% |
| Zero | From 0 pips | From 0.05 USD each side per lot | 30% / 0% |
Other conditions:
- Minimum lot: 0.01 lot.
- Maximum lot: 200 lots (7:00–20:59 GMT+0), 60 lots (21:00–6:59 GMT+0).
- Standard Cent volume: 1 cent lot = 1,000 USD = 0.01 standard lot.
- Leverage: maximum leverage on the Standard account is 1:Unlimited. This applies only if you meet the conditions: on real accounts: equity below 5,000 USD and at least 10 closed orders totalling 5 lots or more across real accounts. Eligible instruments include Forex majors and minors, DXY, USDCNH, HKDJPY, USDHKD, USDTHB; all commodities except XAUUSD247; BTCUSD, BTCUSDT, ETHUSD, ETHBTC.
- Swap-free status: by default all accounts are swap-free on listed instruments; the status can be lost. Clients registered from Pakistan are on the Islamic swap-free country list. See Swap fees.
The margin calculator shows how much margin a USD/CHF position needs at a given leverage.
Fill in the empty fields to see the result.
Higher leverage lowers the margin required, but it does not lower the risk. A small move against you can wipe out the margin on a large position. Leveraged forex and CFD trading can lose money fast. Read Risk management before you size a trade.
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Legal note for Pakistan
Per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947. Also, per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)). Read Law and regulators before opening any account.
Frequent questions
Why is pip value on USD/CHF not a round number in USD?
The pip is measured in Swiss francs. It is converted into your account currency at the current rate, so the value changes as the price moves. Use the pip calculator.
Does USD/CHF always move opposite to EUR/USD?
No. They often move in opposite directions because both are priced against the dollar. The relationship weakens when franc-specific news, such as SNB actions, dominates.
When are spreads on USD/CHF usually widest?
Spreads are usually widest at the daily rollover, at the weekend open, in quiet Asian hours and around high-impact news.
Can I practise on USD/CHF first?
Yes, a demo account lets you test order types and position sizes without real money. Note that the Standard Cent account has demo not available.
Where do I find the exact USDCHF specification?
Open the symbol's specification in MetaTrader or the Exness platform. You can also check the current conditions in the Exness personal area.
