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A foreign exchange trader with a U.S. bank took a speculative long position of 6,000,000 when the GBP/USD was 1.3369. Subsequently, the exchange rate has
A foreign exchange trader with a U.S. bank took a speculative long position of 6,000,000 when the GBP/USD was 1.3369. Subsequently, the exchange rate has changed to 1.3481. If the position is closed now, what is the profit/loss arising from that trade? (USD, no cents)
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