Definition
The smallest standard unit of price change in a currency pair: the fourth decimal place in most pairs and the second in yen pairs.
Example
A move in EURUSD from 1.0850 to 1.0870 is 20 pips.
Related terms
Forex glossary
The smallest standard unit of price change in a currency pair: the fourth decimal place in most pairs and the second in yen pairs.
A move in EURUSD from 1.0850 to 1.0870 is 20 pips.