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the ratio of expected spot rate to current spot rate for USD/Pound is 1.02 and the inflation rate in the U.S. is 5%. What is

the ratio of expected spot rate to current spot rate for USD/Pound is 1.02 and the inflation rate in the U.S. is 5%. What is the approximate inflation rate in the United Kingdom?

4.1%

7.0%

2.9%

1.3%

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