Forex Pip Define
What is a pip?
Pip stands for "percentage in point".
It is the smallest price unit of a commodity or currency. In the Forex market prices are quoted to the fourth decimal point.
A pip is the smallest value in a Forex quote. For example if the USD/GBP rate moves from 1.2111 to 1.2112; the movement is one pip.
Since each currency has its own value, the value of a pip is different for each exchange rage. So for example for a USD/GBP rate of 1.2111 a pip would be 0.0001 (i.e. the fourth decimal place) but with anothe exchange rate for example USD/JPY rate at 119.72, a pip would be 0.01 (i.e. the second decimal place).
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By: Joel Ng
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Joel writes informative articles on various subjects including Forex Trading From Home. Read more at The trading from home review
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