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The table below presents bid-ask quotes for British Pounds (GBP) from several US based currency dealers. Currency Dealer in New York Boston Chicago San Francisco

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The table below presents bid-ask quotes for British Pounds (GBP) from several US based currency dealers. Currency Dealer in New York Boston Chicago San Francisco $1.4481-84 S1.4477-80 Bid Ask Quotes for GBP $1.4478-83 $1.4479-82 dealer will and the If all traders try to maximize profits based on locational arbitrage transactions, then the ask price of the bid price of the __dealer will Chicago; decrease: Boston; increase Boston; increase; Hong Kong: decrease San Francisco; increase: Chicago; decrease New York: increase: Chicago; decrease

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