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2. [14 pts] Consider the following bid-ask (spot) quotes: USD 1 = JPY 123.5690 123.7070 USD1 = DK 5.3021 - 5.3033 JPY 1 DK 0.0415

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2. [14 pts] Consider the following bid-ask (spot) quotes: USD 1 = JPY 123.5690 123.7070 USD1 = DK 5.3021 - 5.3033 JPY 1 DK 0.0415 - 0.0429 You have USD 1 million. Do any arbitrage opportunities exist among these currencies? Please find the profitable trading strategy. Describe the strategy and compute the profit

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