Some newcomers who are new to foreign exchange may not be particularly clear about the amount of funds represented by foreign exchange currency pairs. Today Myforexpedia will introduce you to a very practical point of knowledge: the funds corresponding to trading 1 standard lot of GBP/JPY (pound sterling yen) What is the amount? How much money is equal to 0.01 lot?
GBP/JPY is the British Pound Japanese Yen currency pair (also called pound day), which is a more popular foreign exchange trading product, and trading is very active. The amount of funds represented by a transaction of 1 lot (1 standard lot) GBP/JPY is: 100,000 pounds (100,000 pounds). According to the current exchange rate of British pound to U.S. dollar (1:1.37), 100,000 pounds should be equivalent to: 137,000 US dollars.
If you feel that the amount of funds traded for 1 lot of GBP/JPY is too large, you can also trade 0.01 lot (also called micro lot), which is currently supported by many platforms. Then the amount of money corresponding to 0.01 lot of GBP/JPY is: 1,000 pounds. It is equivalent to 1,300 US dollars.