Fixed Exchange Rate
Or Representative Rate is an official exchange rate set by monetary authorities for one or more currencies. In practice, even fixed exchange rates fluctuate between definite upper and lower bands, leading to intervention.
Flat
Also, known as Square or Balanced, meaning to be neither long nor short. One would have a flat book if he has no positions or if all the positions cancel each other out.
Forex
The simultaneous buying of one currency and selling of another in an over-the-counter market.
Forward
The pre-specified exchange rate for a foreign exchange contract settling at some agreed future date, based upon the interest rate differential between the two currencies involved.
Forward points
The pips added to or subtracted from the current exchange rate to calculate a forward price.
FRA
Forward Rate Agreements are transactions that allow one to borrow/lend at a stated interest rate over a specific time period in the future.
Fundamental analysis
Analysis of economic and political information with the objective of determining future movements in a financial market.
Futures Contract
An obligation to exchange a good or instrument at a set price on a future date; the primary difference between a Future and a Forward is that Futures are typically traded over an exchange (Exchange-Traded Contacts - ETC), versus forwards, which are considered Over the Counter (OTC) contracts. An OTC is any contract not traded on an exchange.