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USD/CHF: US dollar against the Swiss franc

A practical guide to USD/CHF: how the price is quoted, when it is most active, what drives it and how to size trades on it.

Last updated: · By Forexuro Desk · Editorial policy

Published · Reviewed by the Forexuro Desk editorial team

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Overview

USD/CHF prices one US dollar in Swiss francs. The franc is one of the classic safe haven currencies, backed by Switzerland's large current account surplus and stable institutions. The pair often moves in the opposite direction to EUR/USD because both are driven heavily by the dollar. Traders often call it the swissie.

How the quote works

A quote of 0.8240 means one dollar buys 0.8240 francs. One pip is 0.0001, worth 10 francs on a standard lot of 100,000 dollars. New to quotes? Read how to read a forex quote and the glossary entries for pip and lot.

When it trades

USD/CHF is most active in the European and US sessions. Swiss data and Swiss National Bank announcements are released in the European morning, while US data and the Fed drive the New York session.

See the live market sessions clock to check which centres are open in your time zone.

What moves USD/CHF

  • Safe haven demand. Geopolitical shocks and market stress often bring buying of francs, which pushes USD/CHF lower.
  • Swiss National Bank policy. The SNB sets its policy rate quarterly and has shown it is willing to intervene in currency markets to limit franc strength. With the SNB rate at 0% in late 2026, guidance about negative rates or intervention matters.
  • US rates and data. US inflation, jobs and FOMC decisions drive the dollar side.
  • The euro. Switzerland trades heavily with the euro area, so EUR/CHF moves and euro area stress also feed into USD/CHF.

Key events and central banks

The central banks that matter most for USD/CHF: Federal Reserve, Swiss National Bank. Current policy rates, sourced from each bank, are on our central banks page. These scheduled releases often move the market:

See all economic events explained.

Volatility explained

USD/CHF tends to be calmer than GBP/USD on an ordinary day, but the franc has a history of very sudden moves when the SNB changes course, most famously in January 2015 when it removed its EUR/CHF floor. Treat SNB days and safe haven episodes with care and measure current volatility with ATR.

Forexuro does not publish a fixed "average daily range" for USD/CHF here, because any such number goes out of date quickly and depends on the period chosen. Measure it on your own platform over the window you trade.

Pip value and position size

Use the USD/CHF pip value calculator to see what one pip is worth in your account currency, then the position size calculator to turn your risk and stop into lots. Keeping risk per trade small, often 1% or less, is the main protection against a run of losses; see risk management for traders.

Forexuro USD/CHF signals

Forexuro publishes forex signals with an entry, stop loss and take profit levels. See the forex signals page for how they work on this market. Every closed Forexuro trade is published on the trade history page. Daily market notes, including USD/CHF when it is in focus, go out free on the Forexuro Telegram channel.

USD/CHF in the Forexuro record

No USD/CHF signals closed in the current results window (August 2026 to 23 October 2026). Across all markets in the same window the success rate is 87.7% from 240 closed signals, the figure on the results board.

Success rate is take profit closes divided by take profit plus stop loss closes, for signals closed from August 2026 to 23 October 2026, the same rolling window and method as the results board. Breakeven exits are not counted as losses and are listed separately. Pips are measured to the highest target reached and exclude spread, swap and slippage. Every signal since November 2023 is in the trade history and the CSV record; see how results are scored. Past results do not guarantee future results.

This week's outlook

Read the USD/CHF weekly outlook for the week of 26 October 2026, a sourced analysis of the events and levels in focus, or browse all weekly forecasts.

Practical tips

  • Do not hold large positions in EUR/USD and USD/CHF in the same direction against the dollar without checking correlation.
  • Mark SNB decision days on your calendar.
  • Use the correlation calculator to check how closely it is tracking EUR/USD recently.

Other markets: EUR/USD · GBP/USD · USD/JPY · AUD/USD · USD/CAD · NZD/USD · EUR/GBP · XAU/USD

Frequently asked questions

Why is the Swiss franc a safe haven?

Switzerland has a long record of political stability, a large external surplus and deep financial markets.

Does USD/CHF move opposite to EUR/USD?

Often, because both are driven by the dollar, but the link changes over time. Measure it rather than assume it.

What happened in 2015?

The SNB removed its minimum EUR/CHF rate without warning and the franc jumped sharply in minutes, a reminder of gap risk.

What is a pip on USD/CHF?

0.0001, worth 10 francs on a standard lot.

Education only, not financial advice. Trading forex, gold and CFDs carries a high risk of losing money, and leverage magnifies both gains and losses. Past performance is not a reliable guide to future results. Read our risk disclosure.