NO.PZ2023041102000013
问题如下：
An analyst collects the GBP/EUR forward rates in Exhibit 2.
Based on Exhibit 2, he should conclude that three-month EUR Libor is:
选项：
A.below three-month GBP Libor.
B.equal to three-month GBP Libor.
C.above three-month GBP Libor.
解释：
The positive forward points for the GBP/EUR pair shown in Exhibit 2 indicates that the EUR trades at a forward premium at all maturities, including three months.
Covered interest rate paritysuggests a forward rate greater than the spot rate requires a non-domestic risk-free rate (in this case, the GBP Libor) greater than the domestic risk-free rate (EUR Libor). When covered interest rate parity is violated, traders can step in and conduct arbitrage.
麻烦解释下14/15表达的含义
