FX size
Definition · Level 6 · Desk language
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On an FX desk a bare number is millions of the base currency, the first currency of the pair. The second is the currency you pay or receive in return.
Example
“Ten euro” = €10 million; “five dollar-yen” = $5 million.
Where Tradecraft teaches it
Level 6 · Desk language, in the lesson “Currency nicknames and pairs”: Cable, fiber, dollar-yen and the rest, and how to read the pair and the size.
Related terms
- AussieNickname for the Australian dollar and the AUD/USD pair (Australian dollar against the US dollar).
- CableNickname for GBP/USD (the pound against the US dollar), after the transatlantic telegraph line that once carried the rate.
- Dollar-yenDesk name for USD/JPY, the US dollar against the Japanese yen.
- FiberNickname for EUR/USD (the euro against the dollar), the most traded currency pair in the Bank for International Settlements (BIS) surveys.
- KiwiNickname for the New Zealand dollar and the NZD/USD pair (New Zealand dollar against the US dollar).
- LoonieNickname for the Canadian dollar, after the bird on Canada’s one-dollar coin.