Pip

Pip – “Point in Percentage,” the smallest unit of price change in most currency pairs. For pairs quoted to four decimal places (like EUR/USD), one pip is 0.0001. For example, if EUR/USD moves from 1.1050 to 1.1051, that 0.0001 change is one pip. For JPY pairs (quoted to two decimals), one pip is 0.01. Pip values depend on lot size and the pair. Traders often measure gains/losses in pips.

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