Locational arbitrage. Assume the following information:

Given this information, is locational arbitrage possible? If so, explain the steps involved in locational arbitrage, and compute the profit from this arbitrage if you had £1,000,000 to invest. What market forces would occur to eliminate any further possibilities of locational arbitrage?

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Beal Bank Yardley Bank Bid price of New Zealand dollar 0.020 0.018 Ask price of New Zealand dollar 0.022 0.019