Currency Fixing
When LIBOR is released by the BBA and when nations, through their top bankers, release their own rates, this is called fixing. Fixing times occur many times throughout any trading day and represent at times trading opportunities. BBA fixings represent one time and one fix, the external unsecured borrowing rate for a nation's bank doing business in London, while each nation must set its own fix to represent its internal unsecured borrowing rate. All times for the internal fix of nations are different due to the various time frames in which nations trade. Because these rates are the shortest and most sensitive of all interest rates, trading opportunities may occur based on new bids and offers.
For example, the fact that Tokyo releases ...
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