Question
The market bid/ask quote for $/ is $1.4397 - 1.4402. A market maker has a strong opinion about the future direction of the pound and
The market bid/ask quote for $/£ is $1.4397 - 1.4402. A market maker has a strong opinion about the future direction of the pound and places his quote as "98-03". Which currency does the market maker expect to appreciate?
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Step: 1
In foreign exchange quotes the first currency listed is the base currency ...
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
