We get the following quotes: Spot rate: 1.00=$1.25 90-day forward rate: 1.00=$1.29 Which currency is traded at a premium, EUR or USD? (Write the three-letter symbol) What is the 90-day forward premium or discount (expressed as an annual percentage rate) for the USD? (Round to two decimal places. A discount must carry a negative sign) USD, 12.40% EUR, 12.40\% USD, 12.40% EUR, -12.40\% USD, 3.10% EUR, -3.10\%