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2. Bank XYZ quotes the following for the EUR and the Canadian dollar: Bid Price Ask Price EUR/USD $1.31 $1.33 CAD/USD $0.75 $0.76 EUR/CAD $1.74

2. Bank XYZ quotes the following for the EUR and the Canadian dollar:

Bid Price Ask Price
EUR/USD $1.31 $1.33
CAD/USD $0.75 $0.76
EUR/CAD $1.74 $1.76

Is there any opportunity for an arbitrage? if yes, what kind of arbitrage is that? how can you benefit from it if you have one million dollars? What will be your profit or loss?

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