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What's the difference between an intraday and overnight position?
What is the difference between an “intraday” and “overnight position”?
Hi,
In the foreign exchange market (Forex), intraday positions are all positions opened anytime during the 24 hour period AFTER the close of FX’s normal trading hours at 4:30pm EST. Overnight positions are positions that are still on at the end of normal trading hours (4:30pm EST), which are automatically rolled by FX at competitive rates (based on the currencies interest rate differentials) to the next day’s price.
Hope that helps.
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