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What is Currency Arbitrage in spot market? A New York Bank is currently offering quote as dollar 1 . 2 5 5 0 - 1

What is Currency Arbitrage in spot market? A New York Bank is currently offering quote as dollar1.2550-1.2560 per pound . At the same time, a bank in Sydney is quoting as dollar14545-1.4555 per pound. Is there any arbitrage opportunity?

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