Suppose 90-day investments in France have a 6% annualized return and a 1.5% quarterly (90-day) return. In the U.S., 90-day investments of similar risk have a 4% annualized return and a 1% quarterly (90-day) return. In the 90-day forward market, 1 British pound equals $1.65. If interest rate parity holds, what is the spot exchange rate?

A.	1 pound = $1.8000
B.	1 pound = $1.6582
C.	1 pound = $1.0000
D.	1 pound = $0.8500
E.	1 pound = $0.6031