[antr]

you missed the part where the "SNB Unexpectedly Gives Up Cap on Franc, Lowers Deposit Rate".

When a central bank artificially sets an exchange ceiling/floor, and lets it float again freely expect the currency to adjust. That's not "market volatility", that's just the market adjusting to a true free-float.

[bdcs]

Look back to Sept 2011 to see the Franc do similar price swings without a cap in place... In fact, that's WHY the cap was put into place (also to prevent deflation, recession, and a huge slump in exports).

[venaoy]

Doesn't matter what the cause is. A 20%+ variance in mere minutes _is_ volatility, by definition.

[mike_hearn]

All the cap did is try to hide the volatility that was already there.