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Re: [Lingo] FX

On 01/22/2012 09:56 AM, s smith wrote:

I recently started poking around and encountered ads for
'FX'. Here is an example <>.  As
nearly as I can understand, this is 'foreign exchange' but I'm surprised
to find this much interest in foreign exchange.  What am I not
understanding?  Is it common for people there to use the foreign
exchange market this much?

Also I'm seeing the character '銭' on the page a lot.  It's 1/100 of a
yen so it makes sense that it's used like % and I'm assuming it's
pronounced せん and not ぜん.  I haven't noticed it on other financial
pages before but may have missed it.  Is this also a generic term for
interest in Japan?

Thanks for your help.

FX may not be the most highly popular way to lose money today, but it has grown considerably over the past decade with the deregulation of trading and the elimination of the need to buy a trading license in order to post trading. Also coincides with the rise of day trading.

The character 銭 is used to denote any fractional part of a yen and is most common in commodities and currency trading where margins per unit can be razor thin but the difference is made up on the number of units purchased. It's use is usually accompanied by the notation that Japanese financial rounding is employed (up or down at 3 or 7 [never 5 in Japanese GAAP] depending on who is logging the loss or gain: log to buyer's account or seller's).



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