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Assume you are a foreign exchange trader at Sumitomo Bank. One of your customers would like a yen quote on Australian dollars. Current market rates are:
Spot JPY/USD 101.37-85 AUD/USD 1.2924-44
30-day forward (in points) 15-13 20-26 ??
a) What bid and ask yen cross rates would you quote on spot Australian dollars (JPY/ AUD)?
b) What outright yen cross rates would you quote on 30-day forward Australian dollars (JPY/AUD)?
c) What is the annualized forward premium or discount on buying 30-day Australian dollars against yen delivery?
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