Understanding Forex – What is a Pip
February 22, 2012 by admin
Filed under Fx Forex Trading Tips
www.mymanagedforexaccount.com – The Foreign Exchange Market (Forex) is market where currencies are actively bought and sold by banks, funds and investors. The Forex Market facilitates the conversion of one currency for another. It is the relative value of the base currency vs the value of the quote currency. The major currencies of the world are * US Dollar * Austrailian Dollar * British Pound * Canadian Dollar * Japanese Yen * Swiss Franc These are the most liquid currencies in the world. The US dollar is involed in 90% of Forex Transactions. Currencies fluctuate in fractions of a dollar called a Pip (Price Interest Point) A Pip is the last decimal of a quote
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