1. Explain how triangular arbitrage ensures that currency values are essentially the same in different markets around the world at any given moment. 2. In what sense is it a misnomer to refer to a...

1. Explain how triangular arbitrage ensures that currency values are essentially the same in different markets around the world at any given moment.

2. In what sense is it a misnomer to refer to a currency as weak or strong? Who benefi ts and who loses if the yen appreciates against the pound?

May 26, 2022

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