Assume a US money manager has $$100$ million that needs to be invested short term.

They see the following information

Sport rate for $$ is $$1\mathrm{.}5640/,$ or $\mathrm{.}6393/$$

Forward rate for $$ is $$1\mathrm{.}5328/,$ or $\mathrm{.}6524/$$

The short$-$term interest rate in Britain is $12\%,$ and the US short term rate is $9\%.$

$$ Is covered interest arbitrage possible?

$$ What is the strategy?