Under what circumstances might speculators perform the role normally played by arbitrageurs in foreign exchange markets

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Under what circumstances might speculators perform the role normally played by arbitrageurs in foreign exchange markets – that of removing inconsistencies among prices? (Note: consider the relationship between forward and future spot rates of exchange.)

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Financial Markets And Institutions

ISBN: 9780273709190

5th Edition

Authors: Peter Howells, Keith Bain

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