FX Glossary(T)


Take Profit

Transaction to determine profit by profit taking.


The transitions of the past prices and trading volume such as the efforts of credit transactions and statistical analysis of the data of the so-called market internal factors, the approach to predict the direction of the market. Chart analysis, and oscillator analysis.

Telegraphic Transfer Middle Rate(TTM)

It is a market that is the standard of the rate of bank teller. Determine the level pairs customer advertised rate on reference of the interbank market of around 10 o'clock in the bank teller, then as long as there is no significant exchange rate fluctuations abuses, the reference exchange rate that this "TTM" is applied during the day the 1st it is not a.

Telegraphic Transfer Selling Rate(TTS)

Refers to TTC(Telegraphic Transfer selling Rate). The foreign exchange rate of the financial institution in case the general client wishes to exchange from the yen currency to foreign currency.

On the other hand, the exchange rate in case of exchange from the foreign currency to yen currency by the client, it is TTB (Telegraphic Transfer Buying Rate).

The exchange rate of Telegraphic Transfer market usually changes once a day.
Although the exchange rate is slightly different by each financial institution, the standard rate is called the TTM (Telegraphic transfer middle rate), the rate of foreign exchange market that is being traded between bank (interbank) before 10:00 am in the morning serves as the reference.

In the case of exchange of the yen and US dollar in cash, financial institutions usually present to the general client about 1 yen additional trading commissions from the TTM of the interbank.
Commission fee is different by each financial institution with regards to traveller’s check etc. The amount of the distribution on the market such as the Australian dollar in the case of the relatively small currency is additional of about two yen.


And refers to the sound the clock makes English. In the foreign exchange market, it refers to the minimum unit of trading hours

Tick Chart

Series chart when representing the price movement of each short time. "Tick" in English is the sound a clock makes, it represents a slight time or moment.


It is the United States Treasury securities (government bonds). There are types of securities such as treasury notes with the limit of 2 years above within 10 years, and treasury bonds of more than 10 years. The US government bonds, with securities that boast the world's largest amount of circulation of money and volume of trade, those price and the yield movements have become an indicator of the world’s financial markets.


It said to be the trend of price movements. In the case trading dollar / yen, in the price movements towards the appreciation of dollar against yen, it is stronger dollar (weaker yen) trend, if the price movements towards dollar depreciation against yen, it is called weaker dollar (stronger yen yen) trend. In the market, what is most important is being able to ride a trend.


This is the abbreviation of the Bank of telegraph buying rate (Telegraphic Transfer Buying Rate). Although there is "Buying", but if you look from the perspective of companies and individuals, it could mean as "to sell foreign currency (get it sold)." Generally, the TTB in the standard rate is cheaper by the amount of the fee to the "middle rate (TTM)". For example, in the middle rate of $ 1 = 100 yen, if the fee shall be ¥ 1 per $ 1, the TTB will be $ 1 = 99 yen.


It refers to the Middle rate. The foreign exchange rate that is being used as standard rate of customers, such as banks and individuals, when trading in the foreign exchange with less than $ 100,000. In the case of the Tokyo market, in general, although the middle rate is being decided t around 9:55 am, the middle rate will vary slightly depending on the bank. In addition, when the dollar for the middle rate settlement is not enough, it is said to be [out of middle rate]. In that case, if you will need to purchase dollar for the amount lacking, the dollar/yen rate may rise by that dollar-buying.


This is the abbreviation of the Bank telegraph sales rate (Telegraphic Transfer Selling Rate). Although there is "Selling", but if you look from the perspective of companies and individuals, it could mean as (to buy foreign currency)." Generally, the TTS in the standard rate is higher by the amount of the fee to the "middle rate (TTM)". For example, in the middle rate of $ 1 = 100 yen, if the fee shall be ¥ 1 per $ 1, the TTB will be $ 1 = 101 yen.

Twin Deficit

It was born from the US Reagan administration economic policies "Reaganomics" which is called the deficit of the US finance and trade balance. The "Twin deficits" is said to be the most serious in the 2003-2004 year of the George · W · Bush administration era.

Two Way Price

When displaying the exchange rate, it means the presentation of the both the selling price and the purchase price at the same time. For example, if in the dollar/yen transaction, although you may have already seen the presentation like this in the news 「$1 = 110.20-25」, this does not mean that the rate moves between 110.20 to 110.25. This means that the (clients) are doing the trading by 110.20 yen when selling and by 110.25 when buying. If the purchase price and the selling price was not presented at the same time, the exchange is basically by relative trading, because the winning client does not have the information of how the rate between the banks are doing, there is also the possibility that the clients are doing selfish trading like who wants to buy sells high, the client who wants to sell buy cheap.


Refers to the interest-bearing debt maturity of more than 10 years issued by the US government.