coming analyze the UIA potential 9. Copenhagen Covered (A). Heidi Hi Jensen, a foreign exchange trader at JPMorgan Chase, can invest $5 mil- lion, or the foreign currency equivalent of the bank's short-term funds, in a covered interest arbitrage with Denmark. Using the following quotes, can Heidi make a covered interest arbitrage (CIA) profit? Arbitrage funds available Spot exchange rate (kr/$) 3-month forward rate (kr/$) U.S. dollar 3-month interest rate Danish kroner 3-month interest rate $5,000,000 6.1720 6.1980 3.000% 5.000%