Decimal Places

 

Hello Everyone,

I've been doing some independent research into the currency market, and have a general question regarding decimal places in pair values. We're accustomed to pair values at four decimal places for all major pairs, excepting the JPY pairs, which are quoted at two decimal places. However, in conducting research into more exotic pairs, there appears to be a gray zone where perhaps three decimal places are used.

Is this the case? Do we quote at three decimal places ever? If so, where are the break points at which we move from four decimals to three, then three to two? If not, where is the break zone from which we move from four decimals directly to two? Is there a hard and fast rule for this? I would think so as, even though these pairs are quit exotic, people must be trading them.

Thanks so much in advance for assistance. I can give examples if that will help to clarify my question.

 

Take a look at JPY crosses

 

Is this supposed to be a joke?

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