Question 13 In the foreign exchange market, speculation inyolyes: C} ayoicling risk of loss by offsetting an obligation to buy a foreign currency by locking in a contract to sell it at the same time. C} not being able to make a commitment to buy or sell. C) taking a risk by purchasing [or selling} a foreign currency asset. holding it in anticipation of an appreciation [depreciation} of the foreign currency. C) simultaneously buying several currencies to ensure that at least one will rise in value. Question 14 Suppose U555 1 = 1212'! Japanese yen in New York, US$ 1 = 2 euros in London, and 1 euro = ?5 Japanese yen in Tokyo. A speculator with US$ 1 million would get a prot of _____ by engaging in a triangular arbitrage. o $1.5 C} US$1.25 million C} US$0.25 million {j 150 million yen