Assume that the Foreign Exchange section of today's issue of the Wall Street Journal provided the following exchange rate information between the Swiss Franc (SwF) and the U.S. dollar ($):

Switzerland (Franc) .... 1.5500 (that is SwF/$ = 1.5500)

30 days ............. 1.5433

60 days ............. 1.4986

90 days ......... 1.4721

We can conclude from the above information that the US dollar is trading at --------- against the Swiss Franc in the forward market.

Group of answer choices

-a discount.

-both premium and discount.

-neither premium nor discount.

-a premium