Moving to another question will save this response. Jestion 8 If the exchange rate in New York for British pounds sterling is quoted at 1 pound = $1.60, and in London the rate is quoted at 1 pound = $1.62, financial arbitragers might buy pounds in New York sell dollars in London. simultaneously sell pounds in New York and buy dollars in London simultaneously buy pounds in New York and sell dollars in London Search O Hi X W P