Big Figure
a.k.a. Big figure quote, Handle, The figure
The leading digits of an exchange rate that rarely change during the day, which dealers leave out when…
In plain English
The leading digits of an exchange rate that rarely change during the day, which dealers leave out when quoting.
In EUR/USD at 1.0850, the big figure is '1.08'. Dealers on the phone just say '50' because everyone already knows the big figure. That is a big figure quote. Traders also call it the handle: 'euro's on a 1.08 handle.'
When price crosses a round level like 1.0900, traders say it has 'gone through the figure'. Round numbers like these often attract orders and act as psychological levels.
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