1.)Assume todays settlement price on a CME EUR futures contract is $1.3132/EUR. You have a short position in one contract. Your performance bond account currently has a balance of $1,700. The next day settlement price is $1.3060. Calculate the balance of the account at the end of the day. (USD, no cents)

2.)Using the quotations in Exhibit 7.3, note that the June 2019 Mexican peso futures contract has a price of $0.05143 per MXN. You believe the spot price in June will be $0.05055 per MXN. What speculative position would you enter into to attempt to profit from your beliefs?

		Take a long position in the futures contract
		Take a short posltion in the futures contract