Swiss CPI and the SNB's next move on rates

Watching the latest Swiss CPI print come in a hair hotter than expected, it puts an interesting spin on the SNB's next rate decision. We've seen $EURCHF rally up to 0.9348 today, a decent move from its lows. The market seems to be pricing in a bit more room for the SNB to potentially hold off on further cuts, or at least that's how some might interpret this immediate reaction. It's not a huge change, but it's enough to make me re-evaluate my short-term watchlist for CHF crosses, specifically looking at how much more juice the euro has in it against the franc if this inflation narrative gains traction. $CAD is holding its own at 95.879, relatively unfazed by these European dynamics, but the broader sentiment around central bank divergence could still bleed into other pairs.