This is the forex quote for the Canadian Dollar
against the Swiss Franc
. In this quote, the value of one CAD (the 'base currency') is quoted in terms of CHF (the 'counter currency'). The Canadian Dollar
is often considered to be a 'commodity currency' because Canada exports a large amount of natural resources, notably oil
. In practical terms, this makes it sensitive to the ebb and flow of trends in investors' overall outlook on global economic growth. Meanwhile, Switzerland's has a long-standing history as a safe haven and harbor for foreigners looking to house their wealth in a private banking system. As a pairing embodying the relationship between a growth-linked, higher yielding currency and a safety-geared, low yielding one, CAD/CHF
is a notable carry trade vehicle.