23. The spot exchange rate is 1.57 dollars per pound. The 30-day forward exchange rate is.6211 pounds per dollar. Therefore, pounds in the forward market are selling at a to the current spot rate. direct quote in 26. The current direct quote in New York is 01075 dollars per yen. Suppose the current Tokyo is 91 yen per dollar. What is the appropriate indirect quote in New York? What will arbitrageurs do to eliminate the differential rates in these markets