Summary
Dealing With The Dollar
See the full content of this document
Extract
Churning profits, one 'pip' at a time.
TRADER Lan Yee Chan was not having a good morning. As she trained her eyes last week on a large computer screen that flickered on the foreign exchange desk of Union Bank of California, she noticed the Australian dollar had moved upward some 30 "pips."
A single "pip" represents only a fraction of a penny (technically, one 10,000th of any unit of currency), but when millions of dollars of currency are bought or sold, tha...See the full content of this document
Sponsored links
