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Suppose the euro is quoted at 0.6064-80 in London, and the pound sterling is quoted at 1.6244-59 in Frankfurt. please include intermediary steps a) Is

Suppose the euro is quoted at 0.6064-80 in London, and the pound sterling is quoted at 1.6244-59 in Frankfurt. **please include intermediary steps**

a) Is there any arbitrage opportunity? Describe the strategy and compute the arbitrage profit.

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