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The table below presents quotes and cross-quotes on GBP and CHF. USD/GBP: Price for GBP in New York (in USD): USD/CHF: Price for CHF in
The table below presents quotes and cross-quotes on GBP and CHF.
| USD/GBP: Price for GBP in New York (in USD): | USD/CHF: Price for CHF in Chicago (in USD) | CHF/GBP: Price for GBP in Zurich (in CHF) |
| USD 1.725 for 1 GBP | USD 0.645 for 1 CHF | CHF 2.75 for 1 GBP |
The three steps which will create triangular arbitrage profit are as follows: first step, convert ____; second step, convert _______, and third step, convert ______.
A. USD to GBP; GBP to CHF; CHF to USD
B. USD to GBP; CHF to GBP; CHF to USD
C. USD to CHF; GBP to CHF; GBP to USD
D. USD to CHF; CHF to GBP; GBP to USD
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