The following exchange rate quotes on major currency pairs are obtained from the dailyfx.com website. Check if there is an arbitrage opportunity with regard to the following currency pairs. Show your calculations and write your conclusions.

Currency Pairs Set 1

EUR/USD 1.09979 (read this as 1 EUR = 1.09979 USD and follow the same for other quotes)

USD/CAD 1.28559 EUR/CAD 1.41384

Currency Pairs Set 2

USD/CHF 0.93809

USD/JPY 117.949

CHF/JPY 125.720

EUR/USD +0.53% USD/JPY -0.20% 117.949 1.09979 1.09988 BULLISH BULLISH 117.959 GBP/USD +0.17% 1.30229 USD/CAD +0.25% 1.28559 MIXED 1.30238 MIXED 1.28580 NZD/USD 0.00% 0.67447 0.67465 AUD/CAD +0.26% 0.92401 BEARISH 0.92441 CAD/JPY -0.45% CHF/JPY -0.14% 125.720 91.734 91.754 125.740 1.41384 EUR/CAD +0.78% EUR/CHF +0.45% 1.03174 1.41429 MIXED 1.03194 EUR/JPY +0.32% 129.718 GBP/CHF +0.11% 1.22165 BULLISH 129.739 1.22195 USD/CHF -0.06% 0.93809 USD/NOK +0.24% 9.06476 BULLISH 0.93824 9.06726