Cable is quoted at 1.6075-80 and you say "5 yours!" to the broker. What have you done?
A) Sold USD 5 million at 1.6075
B) Sold GBP 5 million at 1.6075
C) Bought GBP 5 million at 1.6080
D) Bought USD 5 million at 1.6080

Question

Quizplus · Accepted Answer

"5 yours!" is a slang term used in the foreign exchange market which means "I'm selling 5 million of yours" (referring to the currency being quoted second in the currency pair). In this case, the currency being quoted second is GBP, so by saying "5 yours!" the trader is selling 5 million GBP at the bid price of 1.6075. Therefore, the correct answer is B - Sold GBP 5 million at 1.6075.

Cable Is Quoted at 1