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6. The following information refers to Fresno Bank and Champaign Bank Fresno Bank Champaign Bank Bid Rate on Euros $1.001 $0.995 Ask Rate on Euros

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6. The following information refers to Fresno Bank and Champaign Bank Fresno Bank Champaign Bank Bid Rate on Euros $1.001 $0.995 Ask Rate on Euros $1.007 $1.000 an arbitrage opportunity? If so, explain how locational arbitrage wonuld ocur. Also explain why this arbitrage will realign the ex change rates.(1pt) trage would occur. Also explain why

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