Currency is expressed with a number of digit after the comma. The last digit, called a “pip” represents the smallest possible movement of a currency rate and looks a lot like ticks or points of other financial instruments. An example: if the EUR/USD would rise 10 pips, the currency pair goes from 1.2920 to 12930. Half pips are a more recent development and provide traders with even more narrow spreads, as well as sharper and more transparent rate information.
