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| Parity | Equality; the value of one currency in terms of another
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| Payment Date | The date at which a dividend or bond interest payment is scheduled to be delivered
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| Payroll Employment | Payroll employment is a measure of the number of people being paid as employees by non-farm business establishments and units of government
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| Plaza Accord | The 1985 Plaza Hotel agreement by the G5 to lower the dollar
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| Petrodollars | Foreign exchange reserves of oil-producing nations arising from oil sales
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| Pip | The smallest price unit in a currency (0.0001 of a unit)
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| Point | Minimum fluctuation or smallest increment of price movement; one percent on an interest rate
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| Position | The net of the total commitments in a given currency
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| Producer Price Index | PPI; an inflationary indicator published by the U.S. Bureau of Labor Statistics to evaluate wholesale price levels in the economy
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| Premium | The amount by which a forward rate exceeds a spot rate; the margin paid above the normal price level
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| Profit Taking | The action taken by investors to sell when prices are rising or to purchase when prices are declining in order to secure gains
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| Put Option | Gives the right but not the obligation to sell currencies or instruments at the option exercise price within a predetermined time period
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