The NZD/CHF pair is neither a major, nor a commodity pair. Since the NZD is an agriculture-focused currency and the CHF a services/finance focused one, that is not surprising at all. While the CHF is a major currency, the NZD is not.
Unlike its neighbor and biggest trading partner, Australia, New Zealand has built its economy on agriculture and food exports. Being the small country/economy that it is, its currency is heavily influenced by international forex trading and the economies of its major trading partners, the US and Australia.
The New Zealand Dollar was introduced in 1967, initially pegged to the USD. Since 1985, the NZD has been floating. While it did sail some rough seas sometimes, it can generally be considered a success. Besides New Zealand, the NZD is also used by a handful of tiny island nations.
The Swiss Franc is without a doubt the currency of one of the world’s strongest and most successful economies. The combination of factors backing the CHF make it one of the most stable currencies in the world. Sitting on one of the world’s largest gold reserves, Switzerland’s economy is also heavily reliant on the services and finance sectors.
Low unemployment rates and a low national deficit make the Swiss economy highly competitive and successful. Taking all the above into consideration, it is hardly surprising that the country has thus far shunned the EU and the Euro. Indeed, the Swiss aren’t keen on joining the Eurozone in the immediate future either.
The geographical distance separating the two economies is not the only factor contributing to their spectacular disparity. The industries which form the base of the two economies are also radically different.
Because the CHF is so stable, most trading opportunities on this pair arise from the price-fluctuation of agricultural products.