Perhaps foreign exchange targeting is the right approach for Switzerland. Generally, I think it is much wiser to allow foreign exchange rates to float and instead target nominal expenditure on final output.
Apparently, the rising exchange rate forvthe Swiss franc is pricing Swiss exporters out of foreign sales. From their perspective, demand is falling, so they sell less at lower prices in Swiss francs.(The prices to their buyers, in Euros for example, are rising.)
If the bank of Switzerland instead committed to keeping money expenditures on output on a stable growth path, which would include the Swiss franc value of the exporters' products, and purchased whatever assets, perhaps foreign currency, needed to accomplish that, then it is almost certain that the Swiss franc exchange rate would fall.
While I don't care for targeting exchange rates, I must admit that I like the sound of buying whatever assets are needed to accomplish the goal. If it were there Fed, no doubt they would have promised to buy $20 billion worth of foreign exchange or perhaps mumbled something about the Federal Funds staying rate low for a good long while or even few more years. Then, they would hope the dollar exchange rate would fall at a modest rate.