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A. Assume the following quotes for pounds, U.S. dollars and euros exist today. 1.15/ $1.30/ $1.65/ i. Assume no transaction costs. Based on these quotes,

A. Assume the following quotes for pounds, U.S. dollars and euros exist today. 1.15/ $1.30/ $1.65/ i. Assume no transaction costs. Based on these quotes, is there an arbitrage opportunity, and if so, how would a UK currency trader with access to 1 million exploit this? Clearly explain your answer and show all relevant calculations

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