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. The JPY exchange rate is 104JPY/USD and the British pound (GBP) exchange rate is 1.69USD/GBP. a. What is the cross-rate in terms of JPY

. The JPY exchange rate is 104JPY/USD and the British pound (GBP) exchange rate is 1.69USD/GBP. a. What is the cross-rate in terms of JPY per GBP? b. The JPY / GBP exchange rate in the market is 179JPY/GBP. Is there an arbitrage opportunity here? If so explain how to take advantage of the mispricing and the arbitrage profit per USD used.

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