Suppose the spot pound and the three$-$month forward pound are both selling for $$2\mathrm{.}00,$ while U$.$S$.$ interest rates are $10$ percent and British interest rates are $6$ percent. Using covered$-$interest arbitrage theory, describe what will happen to the spot price of the pound, the three$-$month forward price of the pound, interest rates in the United States, and interest rates in the United Kingdom when arbitrageurs enter this market.