The A$/S spot exchange rate is A$1.60/$ and the SF/$ is SF1.25/$. The A$/Sfr cross exchange rate is: 0.7813 2.0000 1.2800 0.3500 (L3-Forward) The current spot exchange rate is $1.55/pound and the three-month forward rate is $1.50/pound. You enter into a short position forward contract on pound1,000. At maturity, the spot exchange rate is $1.60/pound. How much have you made or lost? Lost $100 Made pound100 Lost $50 Made $150