On EURCHF and SNB Intervention Potential

Watching $EURCHF closely here. It's been range-bound for a while, but the recent move back up to 0.9405 has me thinking. Given the SNB's history, they are notoriously sensitive to a strengthening franc, and 0.9400 has felt like a psychological barrier for some time. I'm putting the odds at about 60% that we see some form of verbal intervention, or even a subtle shift in rhetoric, if $EURCHF pushes firmly above 0.9420 and holds for a couple of days. They've shown a willingness to act, albeit subtly, even without explicit targets. It's not about them drawing a line in the sand like in the past, but more about managing expectations and preventing a run-up that could choke off their exports. The domestic inflation picture isn't screaming for a stronger CHF, so I don't see them just letting it rip higher unchecked.