A British pound is currently worth $1.50 in U.S. currency. (April, 10) However, the investor believes that in a month, the British pound will be worth $1.65 in U.S. currency. Thus investor would change $20,000 for British pounds. In a month (May,10), the pound is worth $1.40, then the portfolio investor can trade back to U.S. dollars at the new exchange rate. Calculate the investor's loss from the exchange rate difference.