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ABC Bank would like to buy 15 million EUR today against USD. JP Morgan quotes EUR/USD as 1.1750/1.1755. ABC Bank is bullish on EUR/USD. 1

ABC Bank would like to buy 15 million EUR today against USD. JP Morgan quotes EUR/USD as 1.1750/1.1755.

ABC Bank is bullish on EUR/USD.

1 month from today, EUR/USD goes down. ABC Bank would like to sell the EUR bought.

1 month from today, JP Morgan quotes EUR/USD as 1.1700/1.1705.

Determine P/L. Please submit the assignment in an Excel sheet

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