A pip, short for point in percentage, is a minimal measure of change in a currency pair in the forex market. It is usually $0.0001 for U.S.-dollar related currency pairs, which is commonly referred to as 1/100th of 1%, or one basis point. This standardized size helps to protect investors from huge losses.
For more information in regards to pips please visit: https://www.babypips.com/learn/forex/pips-and-pipettes
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