MFGQ Ltd, an Australian company has an operation in London. The corporate treasurer simultaneously calls Citibank in Sydney and Barclays in London. The banks give the following quotes on the euro simultaneously.

Citibank SydneyBarclays London

$1.2635-36/$1.2633-34/

Using AUD2 million, determine whether the corporate treasury could make geographic arbitrage profit with the two different exchange rate quotes.