Suppose that Cloudastries Bank is a U.S.-based financial intermediary that serves the foreign exchange market. Assume that this bank is willing to both purchase and sell currency for the same rate. In other words, assume there is no bid/ask spread. Suppose Cloudastries has made the following direct quotations: Currency Dollar Spot Rate Mexican Peso $0.55 Euro $1.65 Additionally, Cloudastries has quoted a cross exchange rate of 1 euro=3.01 pesos 1 euro = 3.01 pesos . After exchanging dollars for euros, the