Assume that the Euro is selling in the spot market for $1.24. Simultaneously, in the 3-month forward market the Euro is selling for $1.28. Which one of the following statements correctly describes this situation? I. The euro is selling at a premium relative to the dollar. II. The dollar is selling at a premium relative to the euro. III. The dollar is selling at a discount relative to the euro. IV. The euro is selling at a discount relative to the dollar. I and II only I and III only II and IV only III and IV only I and IV only