4. Peter Simpson thinks that the U.K. pound will cost $1.75/ in six months. A 6-month currency futures contract is available today at a rate of $1.77/. If Peter was to speculate in the currency futures market, and his expectations are correct, which of the following strategies would earn him a profit?

(a) Sell a pound currency futures contract.

(b) Buy a pound currency futures contract.

(c) Sell pounds today.

(d) Sell pounds in six months.