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Part (b) Assume that a speculator anticipates that the spot rate of the franc in three months with be higher than today's three-month forward rate

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Part (b) Assume that a speculator anticipates that the spot rate of the franc in three months with be higher than today's three-month forward rate of the franc, $0.50=1 franc. How can this speculator use $1 million to speculate in the forward market? Please elaborate your answer. [5 marks]

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