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Suppose the exchange rate for the Canadian dollar (USD/CAD) is quoted as 1.34 in the spot market and 1.40 in the 90-day forward market. Is

Suppose the exchange rate for the Canadian dollar (USD/CAD) is quoted as 1.34 in the spot market and 1.40 in the 90-day forward market. Is the forward Canadian dollar selling at a premium or a discount relative to USD?

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