Dislikedhttp://img3.imageshack.us/img3/1074/20201893.png
until june, they don't doing investment in money market (fx). i think most EUR (55%) are in goverment bonds with AAA credit rating. so i assume they holding lot of GERMANY BOND, not pure-EUR money. overall it's riskless than holding EUR directly. with pegging to EUR, i think SNB open unlimited volume of EUR/CHF 1.2000 ask price. short term, SNB will win. but longer period, i doubt...
(germany may leave euro & let...Ignored
http://en.wikipedia.org/wiki/Money_market
.