When using leverage, the value of a pip does not change. Rather the amount of leverage being used with impact the pip value. Normally for pairs where the USD is the quote currency a standard lot of 100,000 units has a pip value of $10. If you add 1:100 leverage and you have $10,000 in your trading account you'll be able to control $1,000,000 or 1 standard lot. And each pip will be worth $100. Basically when you increase your leverage you also increase your volatility because each pip is worth much more, making even a small pip change have a huge impact on your trading account.