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1. ANZ bank is quoting the following exchange rates against the New Zealand dollar (NZD) for the Australian dollar (AUD) and the US dollar (USD):

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1. ANZ bank is quoting the following exchange rates against the New Zealand dollar (NZD) for the Australian dollar (AUD) and the US dollar (USD): AUD/NZD = 1.02 - 1.12 = USD/NZD = 1.44 1.56 A US firm asks ANZ bank for a USD/AUD quote. What cross-rates (bid and ask) would the ANZ bank quote? (8 marks)

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