1) Today is March 1. The current direct spot rate on the EUR is $1.1065 ($1.1065/1EUR) and the June Futures contract on the EUR is available for $1.1105. One futures contract on the Euro is for 125,000 Euros and the contract expires on June 15th). What will the June futures price be on April 15th, (Hint: there are 60 days between April 15th and June 15th) if the spot price on the Euro moves to $1.1250/1 EUR on April 15th? Assume the June Euro futures contract will be selling at an annualized forward premium of 1.5% on April 15th. Hint: F = S*(1+p)

June Futures Contract price will be _____________ on April 15^th