Find the latest spot quotes for the pound and the yen against the dollar from an

Question

Find the latest spot quotes for the pound and the yen against the dollar from an online source and cite and time your source. Here is a sample quote from 12/3/16 from FXStreet.Com for the exchange rate for the yen:

In this quote the bid price was ¥113.576 per dollar and the ask price was ¥113.578. You need to find your own quotes for the yen and pound against the dollar. Using your two quotes on the date & time you look up, mathematically calculate the implied currency bid and ask quotes for you to exchange yen and pounds. State your quotes in terms of how many yen per pound. Watch your rounding and show all of your work. Significant rounding errors will result in loss of points on this question.

Find the actual pound to yen exchange rate from the same cite at the same time as you get the other quotes This quote is called a cross rate. Using the ask quote, does the actual cross rate match your calculation, or does your calculation imply a stronger pound or a weaker pound? Clearly explain. Turn in a picture of your quote sheet(s) and be sure to include the date.

Explanation / Answer

Soln:

As you suggested we are taking the quotes from fxstreet.com for USD/JPY, GBP/USD and GBP/JPY

In case if USD?GBP is to be calculated , it will be bid/ask = 1/1.33764/1/1.33748

USD/GBP bid ask = 0.747675/0.747585

Now, lets calculate the GBP/JPY bid ask rate = USD/JPY * GBP/USD

For bid = 112.9120 *1.33748 = 151.0175

For ask = 112.916*1.33764 = 151.041

As per calculation done above we can say that the pound is stronger as compare to the rate from the site.

I have taken the rates for today -14/12/2017

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