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A student researching the AUD/USD exchange rate on a particular day is confused to replace the following two quotations: I. AUD/USD 0.614550 II. USD/AUD 1.627360

A student researching the AUD/USD exchange rate on a particular day is confused to replace the following two quotations:

I. AUD/USD 0.614550

II. USD/AUD 1.627360

Which of the following statements is correct?

Quote II is the convention adopted in Australia and is a direct quote.

Quote II is the convention adopted in Australia and is an indirect quote.

Quote I is the convention adopted in Australia and is a direct quote.

Quote I is the convention adopted in Australia and is an indirect quote.

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