How much money can an astute trader make

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Reference no: EM132036119

Question

You are a U.S.-based treasurer with $1,000,000 to invest. The dollar-euro exchange rate is quoted as $1.60 = €1.00 and the dollar-pound exchange rate is quoted at $2.00 = £1.00.

If a bank quotes you a cross rate of £1.00 = €1.20 how much money can an astute trader make?

Reference no: EM132036119

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