A Pipette measures the smallest change in the exchange rate for a currency pair.

One Pipette equals to 0.00001 of most of the pair currencies.

Because 100 yens are much closer to one of the other major currencies, the Yen-based currency pairs are an exception, one Pipette equals to 0.001 of the Yen currency pairs. 

Ten Pipettes equals one Pip

10 Pipettes = 1 Pip

or

1 Pipette = 0.1 Pips