"Recently, divergences between the monetary policies of the major currency areas have increased significantly – a trend that is likely to become even more prono

"Recently, divergences between the monetary policies of the major currency areas have increased significantly – a trend that is likely to become even more pronounced. The euro has depreciated considerably against the US dollar and this, in turn, has caused the Swiss franc to weaken against the US dollar. In these circumstances, the SNB concluded that enforcing and maintaining the minimum exchange rate for the Swiss franc against the euro is no longer justified." http://www.snb.ch/en/mmr/reference/pre_20150115/source/pre_20150115.en.pdf http://www.snb.ch/en/mmr/reference/pre_20150115/source/pre_2... The SNB just had a 38 billion surplus in 2014 which they could use to write of their losses in euro investments, but they just stated they are not going to. They EUR is weakening against the USD and the SNB does not want the CHF to go down with it. Does that mean they lost trust in the EUR completely? People are speculating on Greece's exit from the EUR, which could further weaken it. I guess exports and tourism will now suffer, but investments in the eurozone just got pretty cheap for the swiss.