• EUR/CHF (+0.4%) grinds higher, trades cautiously above 0.94

• Yield spreads also guide the way higher for the cross

• Swiss CPI and Q2 GDP due Sept 3 at 0630GMT

• CPI f/c at 1.2%, which would undershoot SNB's projection of 1.5%

• Thus, add to the case of a third straight 25bps cut 0#SNBWATCH

• CHF risks likely lean to downside given SNB preference for a weaker currency

• COMMENT-Don't fight the SNB jawboning nL1N3KH0B3

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