In financial terms, the word “square” is often used to refer to the act of closing out an existing position. For example, if an investor had previously bought a certain amount of a particular currency, they could “square” their position by selling that same amount of the currency, effectively closing out their position and ending their exposure to potential price movements in that currency. The term is also sometimes used to refer to a situation where an investor has offsetting long and short positions in the same currency, resulting in a net zero exposure to price movements.