1. When requesting a Spot quote on the Euro in the US, the broker says: 25-35. Determine the current spot quote if when you looked it up yesterday over the internet it had closed at: Bid $1.2214/ Ask $1.2220. What is the "bid/ask spread? What does this tell you? 2. If the current quote for the Mexican Peso is: $0.0875/MXN and it is anticipated to go to: $0.0870/MXN in 60 days, what will be the forward discount/premium and give a minimum of 3 reasons as to why this might happen. 3. A FOREX dealer in the UK quotes the following rates for the Euro () in European Terms: 0.6335-38 2-68-87-3. If these are: Spot, 30, 45, and 60 day quotes, determine the following: 1. Actual Quotes, 2. What would you pay in dollars (S) if you purchased 4 million Euros (6) in the Spot Market? 3. What would you receive in Euros (6) if you sold 5 million dollars ($) in the 60 day Forward Market