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Given interest rates: - Deposit rate: 0.40% in &1.0% in - Borrow rate: 0.50% in &1.1% in - Investment Plan: - You use your own funds: $100 - You can borrow additional funds either 250 or 200 - Spot rates - EUR/USD =1.2 \& GBP/USD =1.5 - Expectation: - USD is expected to depreciate by 2.5% against EUR in 1 month. - USD is expected to appreciate by 1.5% against GBP in 1 month. 1. Exchange rate in 1 month (1.8 points) a. EUR/USD= 1.2/(12.5%)=1.2308 b. USD/EUR = 1/1.2308=0.8125 c. GBP/USD = 1.5/(1+1.5%)=1.4778 d. USD/GBP= 1/1.4778=0.6767 e. GBP/EUR= 1.4778/1.2308=1.2007 f. EUR/GBP= 1/1.2007=0.8328