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Suppose Sumitomo Bank quotes the /$ exchange rate as 110.30-.40 and Nomura Bank quotes 110.40-.50. Is there an arbitrage opportunity? If so, explain how you

Suppose Sumitomo Bank quotes the /$ exchange rate as 110.30-.40 and Nomura Bank quotes 110.40-.50. Is there an arbitrage opportunity? If so, explain how you would profit from these quotes. If not, explain why not.

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