Pip

Pip – Short for “Percentage in point,” it is the standard smallest increment of price movement in the forex market. For most currency pairs, 1 pip = 0.0001 of the exchange rate (which is one hundredth of 1%). An exception is pairs involving the Japanese yen where 1 pip = 0.01. Traders often measure profit/loss in pips (e.g. +50 pips).

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