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How did they get the implied quote of Scotia Bank for USD/JPY of 0.0089--0.0090? Solution: From Scotia Bank's quote, we can determine the implied USD/JPY

How did they get the implied quote of Scotia Bank for USD/JPY of 0.0089--0.0090?

Solution: From Scotia Bank's quote, we can determine the implied USD/JPY quote as: USD/JPY 0.0089 0.0090 Therefore, comparing Scotia and TD, there is an arbitrage opportunity. Mr Trage could take the following steps to realize an arbitrage profit:

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