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Jennifer is considering a covered interest arbitrage investment in UK pounds. The current exchange rate is 0.50/$ and the six-month forward rate is 0.49/$. If

Jennifer is considering a covered interest arbitrage investment in UK pounds. The current exchange rate is 0.50/$ and the six-month forward rate is 0.49/$. If the annual rate on riskless securities in the US is 3% then Jennifer will make a greater profit via CIA compared to the US investment. True or False and explain why

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