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Suppose a trader quotes the following for the British pound, $1.89-1.90/. a) What is the direct bid-ask rate for a British investor? b) If an

Suppose a trader quotes the following for the British pound, $1.89-1.90/. a) What is the direct bid-ask rate for a British investor? b) If an American were to buy $10,000,000 of British pounds and then sell them a minute later, with the same quote what is her loss or gain in dollars in the transaction? Explain.

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