1a) We got a $/ bid-ask quote of $1.2529-$1.2535 three months ago. What is the spread?

- a) 4.8%

- b) 60 basis points

- c) 4.8 basis points

- d) 14.4 basis points

- e) -14.4 basis points

1b) Suppose the EUR has appreciated 25.0% against the GBP. What is the quantity for the GBPs depreciation?

- a) -75.0%

- b) -20.0%

- c) 75%

- d) -80%

- e) None of the options