The Swiss National Bank (SNB) has the mandate to maintain CPI inflation near 2% on a yearly basis but is currently running at just 0.2%. CHF’s strength is not welcomed by SNB, economists at Rabobank reports. 

Retail data shows that the SNB peg removal in January 2015 as early as April 2015 with minimal adverse impact on the economy.
Trade surplus showed that Switzerland had fully recovered its lost trade surplus in May and expectations crossed an important threshold into positive territory in June.
CHF strengthened since May end, as the market caught wind of the Swiss recovery, and the Grexit would further strengthen the CHF if it were to occur.