Smarty will recognize assigned variables embedded in "double quotes" so long as the variable name contains only numbers, letters, under_scores and brackets[]. See naming for more detail.
With any other characters, for example a .period or $object>reference, then the variable must be surrounded by `backticks`.
You cannot embed modifiers, they must always be applied outside of quotes.
Example 3-6. Practical examples
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See also escape.