Glossary

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Whipsaw
Slang for a condition of a highly volatile market where a sharp price movement is quickly followed by a sharp reversal.

Wholesale Money
Money borrowed in large amounts from banks and institutions rather than from small investors. Wholesale Price IndexIt measures changes in prices in the manufacturing and distribution sector of the economy and tends to lead the consumer price index by 60 to 90 days. The index is often quoted separately for food and industrial products.

Working day
A day on which the banks in a currency's principal financial centre are open for business. For FX transactions, a working day only occurs if the bank in both financial center’s are open for business (all relevant currency centers in the case of a cross are open).

World Bank
A bank made up of members of the IMF whose aim is to assist in the development of member states by making loans where private capital is not available.

Writer
The seller of a position. Also known as the grantor of the trade. "Writing a Currency" is to sell it.