Identify the one false statement about bid$/$ask quotes:

$($A$)$ The bid $-$ask spread does not increase with liquidity $.$

$($B$)$ The "bid $"$ is smaller than the "ask $"$ quote $.$

$($C$)$ The bid$-$ask quotes also affect forward contracts $.$

$[3$ marks$]$

$($D$)$ When the currency that you transact is in the denominator, the bid

rate is lower than the ask rate $.$

$($E$)$ As the customer of a bank $,$ you always transact at the best favourable

rate $,$ i$.$e$.,$ you buy at the ask rate and you sell at the bid rate $.$