A minimum unit of price change. In the forex market, a point is usually a 0.0001 move, except for USD/JPY in which a point is a 0.01 move. In decimal traded U.S. futures contracts, a point is one hundredth of a Cent, except for grains where it is one cent. Also, a point is one percent of par in the Treasury bond market. also called tick.
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unbiased expectations hypothesis
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