The spread is usually measured in pips, which is the smallest unit of the price movement of a currency pair.
For most currency pairs, one pip is equal to 0.0001.
An example of a 2 pip spread for EUR/USD would be 1.1051/1.1053.
Currency pairs involving the Japanese yen are quoted to only 2 decimal places (unless there are fractional pips, then it’s 3 decimals).
For example, USD/JPY would be 110.00/110.04. This quote indicates a spread of 4 pips.
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