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The EURCHF is a major currency pair that represents the exchange rate between the Euro, the currency of the European Union, and the Swiss Franc, the currency of Switzerland. The EURCHF is an important currency pair in the foreign exchange market due to Switzerland's significant role as a global financial center and the euro's widespread use as a reserve currency. To convert EUR to CHF or vice versa, the current exchange rate is used. For example, if the EURCHF exchange rate is 1.10, then 1 Euro is equal to 1.10 Swiss Francs, and 1 Swiss Franc is equal to 0.91 Euros.
The pair was introduced in 1999 when the Euro was launched as a virtual currency. In 2002, the Euro became a physical currency, and since then, the EURCHF pair has been traded on various forex platforms. The exchange rate between the Euro and Swiss Franc has been historically volatile due to factors such as political tensions, economic conditions, and central bank policies. The Swiss National Bank has been known to intervene in the forex market to maintain a stable exchange rate, particularly during times of economic stress.
The price history of EURCHF has been characterized by both stability and volatility. From 1999 to 2011, the EURCHF maintained a stable exchange rate, with the Swiss National Bank (SNB) keeping the rate at around 1.20 francs per euro. However, in 2011, the Eurozone debt crisis caused investors to flock to the Swiss Franc as a safe haven currency, causing the EURCHF to drop sharply.
In 2015, the Swiss National Bank (SNB) abandoned its peg to the euro, causing the pair to plummet by almost 30% in a matter of minutes. Since then, the exchange rate has remained volatile, with the SNB intervening in the market to maintain stability.
Overall, the price history of EURCHF has been marked by a delicate balance between market forces and central bank interventions. The exchange rate remains subject to fluctuation in response to economic and political developments in both the Eurozone and Switzerland.
Traders may consider trading the EURCHF currency pair for various reasons. One potential reason is the stability of the Swiss Franc, which is often seen as a safe-haven currency due to Switzerland's reputation for financial stability and neutrality. Additionally, the Eurozone is a major economic region, and economic data releases and political developments can create volatility in the EURCHF exchange rate.
Traders may also consider other currency pairs based on their individual trading strategies and market analysis. For example, traders who are interested in trading major currency pairs may also consider the USDJPY or GBPUSD, while those interested in trading emerging market currencies may look at the USDMXN or USDCNH. Ultimately, the choice of currency pairs to trade will depend on a trader's individual risk tolerance, investment goals, and market outlook.
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* The spreads provided are a reflection of the time-weighted average. Though Skilling attempts to provide competitive spreads during all trading hours, clients should note that these may vary and are susceptible to underlying market conditions. The above is provided for indicative purposes only. Clients are advised to check important news announcements on our Economic Calendar, which may result in the widening of spreads, amongst other instances.
The above spreads are applicable under normal trading conditions. Skilling has the right to amend the above spreads according to market conditions as per the 'Terms and Conditions'.
Why Trade [[data.name]]
Make the most of price fluctuations - no matter what direction the price swings and with low capital investment.