You use the following information to construct a binomial forward tree for modeling the movements of the dollar/euro exchange rate:

(i) The length of each period is 3 months.

(ii) The current dollar/euro exchange rate is $1.50/€.

(iii) The volatility of the exchange rate is 20%.

(iv) The continuously compounded risk-free interest rate on dollars is 4%.

(v) The continuously compounded risk-free interest rate on euros is 5%.

(vi) The price of a 6-month standard dollar-denominated American lookback call option on euro is $0.1.

Describe transactions that should be entered into currently to exploit an arbitrage opportunity (if one exists).