The value of the position will be determined by the USD rate vs. the base currency. The math is simple. If you're trading EUR/CHF, for example, the value of the position is EUR/USD x the trade size.
Thus, if you're long 100,000 EUR/CHF and EUR/USD is quoted at 1.40, the position value is:
100,000 x $1.40 = $140,000
Now, if you're talking about pip values, you need to use the quote currency against the dollar. Again, using the EUR/CHF example, that means taking the EUR/CHF pips made or lost and dividing by USD/CHF.
Last edited by rhodytrader; 11-22-2011 at 09:04 AM.
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