what is the difference between a pip and a pippette 
in the context of the foreign exchange market a pip is a standard unit of measure for changes in an exchange rate representing a move of 0 0001 1 10 000 this is the smallest price change increment for most currency pairs a pipette equals 1 10 of a pip and represents a fraction of 1 100 000 a pip therefore relates to movement in the fourth decimal place while a pipette is used to measure movement in the fifth decimal place 