1 Which of the following are true?

(a) If the 6-month USD/CHF forward swap points change from 125/120 to 135/130, USD interest rates might have fallen.

(b) If the 3-month forward swap points are greater on the left than the right, then the variable currency has a higher interest rate than the base currency.

(c) The 2-month GBP/USD swap points are 67/72. If dollar interest rates then rise but nothing else changes, the swap points will get bigger.

(d) If the 1-month forward points for AUD/CAD are 123/118, the Canadian dollar is at a forward discount against the Australian dollar.

(e) If the 3-month EUR/GBP swap is par and the 3-month GBP interest rate is 5.0%, then the 3-month euro interest rate is also 5.0%.

(f) An FX spot trader who went home last night leaving an open position will adjust his position at the start of today using O/N and T/N swaps.