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A foreign exchange trader with a U.S. bank took a short positionof 5,000,000 when the $/ exchange rate was 1.12. Subsequently,the exchange rate has changed

A foreign exchange trader with a U.S. bank took a short positionof Â£5,000,000 when the $/Â£ exchange rate was 1.12. Subsequently,the exchange rate has changed to 1.16. Is this movement in theexcha 2 answers

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