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Suppose the Japanese yen exchange rate is 77 = $1, and the British pound exchange rate is 1 = $1.62. a. What is the cross-rate
Suppose the Japanese yen exchange rate is 77 = $1, and the British pound exchange rate is 1 = $1.62. a. What is the cross-rate in terms of yen per pound? (Round your answer to 2 decimal places. (e.g., 32.16)) Cross-rate b. Suppose the cross-rate is 128 = 1. What is the arbitrage profit per dollar used? (Do not round intermediate calculations and round your answer to4 decimal places. (e.g., 32.1616)) Arbitrage profit $
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