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周梅 · 2024年10月20日

ecnomic

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NO.PZ202106160100000101

问题如下:

Using the quotes in Exhibit 1, the amount received by Goldsworthy from converting JPY 225,000,000 will be closest to:

选项:

A.

GBP 1,734,906

B.

GBP 1,735,174

C.

GBP 1,735,442

解释:

A is correct.

Goldsworthy has been given a bid–offer spread. Because she is buying the base currency—in this case, GBP—she must pay the offer price of JPY 129.69 per GBP.

JPY225,000.000129.69  JPY/GBP=GBP1,734,906\frac{JPY225,000.000}{129.69\;JPY/GBP}=GBP1,734,906

考点: Spot rates and forward rates以及bid-offer spread

解析: 题目中说投资者要买GBP,那么就应该使用DEALER关于GBP的卖价做加交易。所以可得

JPY225,000.000129.69  JPY/GBP=GBP1,734,906\frac{JPY225,000.000}{129.69\;JPY/GBP}=GBP1,734,906

Nexran should see the best market liquidity for euro trades when London opens for trading.

The interbank FX markets are most liquid when the major FX trading centers are all open. The two largest, London and New York, overlap from approximately 8:00–11:00 a.m. NY time. As such, the interbank market for most currency pairs is typically most liquid during those hours, which is well after the open in London.

老师为啥“”Nexran should see the best market liquidity for euro trades when London opens for trading.”是错误的,看了解释也没有看懂

1 个答案

笛子_品职助教 · 2024年10月20日

嗨,从没放弃的小努力你好:


老师为啥“”Nexran should see the best market liquidity for euro trades when London opens for trading.”是错误的,看了解释也没有看懂


Hello,亲爱的同学~

流动性最好的时候,并不是只有伦敦市场开盘的时候。

流动性最好的时候,是所有市场都开盘的时候。在本题这里就是指美国市场和伦敦市场都开盘。

在美国纽约,很多交易员都在做欧元的交易。

如果只有伦敦开盘,纽约不开盘,那么纽约的交易员就无法做欧元交易,这使欧元流动性降低。

所以我们要交易欧元那么最好是在欧洲和美国市场,都开盘的时候。

此时的流动性是最好的。


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