CHF/ZAR is not popular currency pair on Forex market. CHF/ZAR can be considered as the cross rate against the U.S. dollar. The greenback greatly affects the CHF/ZAR currency pair, although it is not obviously represented in this trading instrument. If combine the USD/CHF and USD/ZAR charts, we can get an approximate CHF/ZAR price chart.
Both currencies are influenced by the greenback. That is why it is necessary to take into account the discount rate, GDP, unemployment, new created workplaces indicator and many other U.S. major economic indicators for the correct analysis of this financial instrument. However, it should be noted that the mentioned above currencies could respond with different speed to the changes in the U.S. economy, therefore, the CHF/ZAR currency pair may act as a specific indicator of changes within these currencies.
Switzerland economy remains strong for several centuries. As a consequence, the Swiss franc demonstrates its strength all over the world , being one of the most reliable and stable world currencies. The Swiss franc serves as a safe haven currency for capital investment during the crises. Therefore, during financial meltdown, when global capital is urgently forwarded to Switzerland, the Swiss franc rises sharply against other currencies. This feature of Swiss economy should be taken into account when you trade this instrument.
This trading instrument is relatively illiquid compared to such major currency pairs as EUR/USD, USD/CHF, GBP/USD, and USD/JPY. Therefore, when you make a prognosis for the financial instrument, you should primarily focus on those currency pairs that include the U.S. dollar.
It is necessary to remember that brokers, as a rule, set a higher spread for cross rates rather than for more popular currency pairs. Thus, before you start working with the cross rates, read carefully the conditions offered by the broker to trade with specified instrument.
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