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Q2 Using the following quotations: AUD / EUR 0.6086 / 0.6089 SEK / EUR 0.0959 / 0.0979 (a) Create a cross rate between the Australian

Q2 Using the following quotations:

AUD / EUR 0.6086 / 0.6089

SEK / EUR 0.0959 / 0.0979

(a) Create a cross rate between the Australian Dollar (AUD) and the Swedish Krona (SEK). Present your quotation in direct form as the dealers buy and sell prices for the Swedish Krona (4 decimal places). Show all workings to obtain full marks.

(b) What is the size of the spread of the cross rate as a percentage of the ask price?

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