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Assume it is June 1,2016 and the exchange rate for U.S. dollars and British pounds is approximately $1.00=0.70. You are a currency speculator. Somehow you know that on June 23 , 2016, the British will vote to approve Brexit, removing the U.K. from the European Union. Suppose you also know that about week after the vote, on July 1,2016, the exchange rate for U.S. dollars and British pounds will have increased to approximately $1.00=0.85. In your portfolio (on June 1), you have $5,000,000 in dollars and 5,000,000 in pounds with which to speculate. Your intent is to profit from currency speculation. Using the money in your portfolio to make currency trades on June 1 and on July 1 , calculate how much profit you could make in dollars. Provide your answer in U.S. dollars rounded to one decimal place. Use a negative sign "." for negative values. Do not include any symbols, such as "\$," " =,"%," or "," in your answer. Your Answer: Answer Question 62 (1 point) A bottle of wine made in the European Union sells for 121. Suppose the exchange rate of U.S. dollars for euros changes from $1.00=0.85 to $1.00=0.66. What has happened to the cost of the bottle of wine in the U.S.? That is, what is the change in the cost of the bottle of wine for consumers in the U.S. in dollars? Provide your answer in dollars rounded to one decimal place. Use a negative sign "-" for negative values. Do not include any symbols, such as " $," " =,"%%," or "," in your answer. Your Answer: Answer The exchange rate of U.S. dollars for Canadian dollars is currently $1.00=C$1.14. The U.S. and Canada allow their currencies to float. Suppose you are an importer-exporter who seeks to profit from buying and selling goods internationally. Also suppose the price of the Audi A8 sedan sells for $65,000 in the United States and C $65,000 in Canada (in Canadian dollars). How much in dollars can you earn per Audi traded? Provide your answer in U.S. dollars rounded to two decimal places. Use a negative sign "-" for negative values. Do not include any symbols, such as "\$," "=," "\%," or "," in your answer. Your