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Peter specializes in cross-rate arbitrage. He noticed the FX quote in the table: Bid Ask CHF/USD 1.5971 1.5986 CAD/USD 1.8214 1.8235 CAD/CHF 1.1410 1.1420 Does

Peter specializes in cross-rate arbitrage. He noticed the FX quote in the table:

Bid Ask

CHF/USD 1.5971 1.5986

CAD/USD 1.8214 1.8235

CAD/CHF 1.1410 1.1420

Does Peter have an arbitrage opportunity. What profit does he make if he had $1,000,000 USD?

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