On the 25th of November 2017, your currency dealer based in the United States provides you with the following quote in direct terms: USD Bank American Terms European Terms Quotations Bid Ask Bid Ask GBP 1.3066 1.3070 SEK 0.1255 0.1256 Calculate the Bid-Ask spread for S($/) in direct terms and calculate the indirect or European terms for S(/$) and S(SEK/$) A Swedish firm asks the same US bank for an SEK/ quote. Assuming no transaction costs, what will be he subsequent cross rate quoted by the bank? Calculate the bid-ask spread for the SEK/ quote and critically evaluate the result