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Forex glossary - P

PBOT - abbreviation for Philadelphia Board of Trade.

Pips - ten-thousandths of the price, i.e. 0.0001. Also known as Points.

Position - long or short commitment in the market.

Price Limit Order - a type of order that determines the price at which a trade can be executed.

Producer Price Index (PPI) - A fundamental index that shows the cost of resources used to produce manufactured goods during the previous month.

Put Option - a type of option that gives the option buyer the right to sell the underlying futures contract at a particular price on or before a particular date.

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