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As a foreign exchange trader, you see the following quotes for Canadian Dollars (CAD), U.S. Dollars (USD), and Mexican Pesos (MXN): MXN 6.4390/CAD USD 0.7047/CAD
As a foreign exchange trader, you see the following quotes for Canadian Dollars (CAD), U.S. Dollars (USD), and Mexican Pesos (MXN): MXN 6.4390/CAD USD 0.7047/CAD MXN 8.7535/USD Is there an arbitrage opportunity? If so, how would you exploit it if you had 1 million USD? (11 marks)
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