A foreign exchange trader with a U S bank took a short position of 5 million when the $ exchange rate was 1 45 Subsequently, the exchange rate changed to 1 51 Is this movement in the exchange rate good from the point of view of the position taken by the trader By how much did the bank 's liability ...

The increase in exchange rate implies that the pound has appreciated ...

A foreign exchange trader with a U.S. bank took a short position of 5 million when the

Question:

A foreign exchange trader with a U.S. bank took a short position of £5 million when the £:$ was 1.45. Subsequently, the changed to 1.51. Is this movement in the good from the point of view of the position taken by the trader? By how much did the bank's liability change because of the change in Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...