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Moving layers precisely is something you are going to want to do all the time as well.
So you can of course select the layer that you want to adjust. If you
have the Auto Select command turned on with the Move tool, you can just click
on the layer that you want to move. Sometimes you want to nudge it in very small
increments that are hard to hit when you are just using your mouse. If I want
to move this one pixel at a time, that's a very, very nuanced gesture with your
mouse to hit. Instead you can use your arrow keys to nudge layer
content one pixel at a time in any direction based on the arrow key that you
press. So if I want to move down one pixel at a time, I just press my down arrow,
my up arrow to go up, left and right and so forth.
If you want to move in larger increments, hold down the Shift key and you'll go
ten pixels at a time depending on the direction arrow that you choose.
So combining the nudging by using your arrow keys with the Auto Select behavior
you've a very quick and efficient way to precisely move layers once they're selected.