Identify the one false statement about bid/ask spreads: a. The bid-ask spread increases in the liquidity of the currency that you transact in, i.e., the more liquid a foreign currency the higher the bid-ask spread. b. The terms "bid" and "ask" are from the perspective of the bank, i.e., the bank bids an amount of home currency for one unit of foreign currency and the bank asks an amount of home currency for one unit of foreign currency. c. The bid-ask spread increases in the time-to-maturity of a forward contract, i.e., the longer the time-to-delivery the higher the bid-ask spread. d. As the customer of a bank, you always transact at the less favourable rate, i.e., you buy at the ask rate and you sell at the bid rate. e. When the currency you transact in is in the denominator (as is always the case in our textbook), the bid rate is lower than the ask rate