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Suppose that the following quotes apply. Currency Quote Value of GBP in USD 1.1468 Value of NZD in USD 0.5968 Value of GBP in NZD

Suppose that the following quotes apply. Currency Quote Value of GBP in USD 1.1468 Value of NZD in USD 0.5968 Value of GBP in NZD 1.8395 Given the information above, is triangular arbitrage possible? Why? Or why not? If it is possible, explain the steps that would reflect the triangular arbitrage process and compute the potential profit from this strategy if you had 1,000,000 USD at your disposal to use for this purpose.

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