Consider our topic of international interest arbitrage. You have $1,000,000 to invest in an "interest bearing asset" for a month (30 days) in the United States or instead in the United Kingdom; wherever the (potential) rate of return seems higher to you. For interest rate figures use the "discount rate" of the central bank for the two countries and assume that the reported rates are for one month, as is your investment period. With regard to investing abroad in the United Kingdom, you have the option of taking an open position or instead a closed position; whichever you think will result in a higher rate of return. State your choice among the three alternatives (one in US and two in UK) and show all the calculations through which you arrived at your choice. [Note: For the open position use your educated guess for the future spot rate. Also, if you find the "prime rate" for US and UK and prefer to use that instead of the "discount rate", you can do so.]