Technical correction - A "technical adjustment" is an adjustment to price not based on market sentiment, but on technical factors such as volume and charting.

Thin market - A "thin market" is a market in which trading volume is low and in which bid and ask quotes are wide and the liquidity of the instrument traded is low.

Thursday/Friday dollars - "Thursday/Friday dollars" are a U.S. foreign exchange technicality. For example, a foreign bank buys dollars on Tuesday for a Thursday delivery.

If the bank leaves the funds overnight and transfers them on Friday by means of a clearinghouse cheque, then clearance is not until Monday, the next working day. Higher interest rates for this period are thus available.

Tick - "Tick" is a minimum change in price, up or down.

Today/Tomorrow - "Today/Tomorrow" is the simultaneous buying of a currency for delivery the following day and selling for the spot day, or vice versa. This is also referred to as, "overnight!"

Tomorrow next (Tom next) - "Tomorrow next (Tom next)" is the simultaneous buying of a currency for delivery the following day and selling for the spot day or vice versa.

Trade date - A "trade date" is the date on which a trade occurs.

Tradable amount - A "tradable amount" is the smallest transaction size acceptable.

Transaction date - A"transaction date" is the date on which a trade occurs.

Transaction - A "transaction" is the buying or selling of currencies resulting from the execution of an order.

Two-tier market - A "two tier" market is the dual exchange rate system, where normally only one rate is open to market pressure, e.g. South Africa.

Two-Way quotation - A "two way quotation" is when a dealer quotes both buying and selling rates for foreign exchange transactions.