Question: Is there any speculative strategy by using this exchange rate? (Only use AUD to buy any currency, do not use short selling) EX: use AUD

Is there any speculative strategy by using this exchange rate? (Only use AUD to buy any currency, do not use short selling)

EX: use AUD to buy USD in spot and sell USD back to AUD in six month forward

Is there any speculative strategy by using this exchange rate? (Only use AUD to buy any currency, do not use short selling) EX: use

CCCCC AUD to buy USD in spot and sell USD back to AUD

Bank B Comm / Terms Bid Ask Mid Comm / Terms FWD 1M 1M 1M 1M 1M AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY 0.7129 0.5964 1.6310 0.5421 1.7947 75.9205 1.1763 1.2885 105.0405 0.8954 126.1304 138.6500 0.7428 0.6787 1.7807 0.5651 1.9603 79.6324 1.3118 1.4540 117.7199 1.0185 139.2388 147.6207 1M 0.7278 0.6375 1.7059 0.5536 1.8775 77.78 1.2440 1.3712 111.38 0.9569 132.68 143.14 Bid- Ask- fwd fwd Comm/ Terms FWD points points -6.39 7.27 AUD/USD -11.08 6.46 AUD/EUR 3M -5.20 20.38 EUR/AUD -9.96 10.36 AUD/GBP 3M -29.59 36.15 GBP/AUD -17.12 14.26 AUD/JPY 3M -0.77 21.01 EUR/USD 3M -16.44 10.49 GBP/USD 3M -15.38 8.57 USD/JPY -8.06 16.80 EUR/GBP 3M -7.25 18.59 EUR/JPY -21.14 20.61 GBP/JPY 3M AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY Bid- Ask- fwd fwd Comm / Terms FWD points points -7.10 7.14 AUD/USD 6M -19.50 -2.30 AUD/EUR 6M 17.26 40.90 EUR/AUD OM -8.95 20.16 AUD/GBP 6M -11.44 18.33 GBP/AUD 6M -15.16 -0.98 AUD/JPY 6M 15.37 33.54 EUR/USD 6M -5.35 15.27 GBP/USD 6M -20.64 -2.54 USD/JPY 6M 4.23 23.72 EUR/GBP 6M -1.27 18.49 EUR/JPY OM -31.47 11.43 GBP/JPY 6M Bid- Ask- fwd fwd points points -7.17 8.34 -35.49 -12.68 52.42 68.92 -12.88 6.50 -7.71 34.95 -33.48 -4.89 38.65 54.74 4.07 24.29 -44.60 -20.62 17.85 33.71 4.71 22.03 -42.77-14.05 1M 1M 1M 1M 1M 1M IN Bank A Comm / Terms Bid Ask Mid Comm / Terms FWD AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY 0.7107 0.5987 1.6301 0.5381 1.8126 76.3106 1.1668 1.2985 105.8222 0.8957 125.1046 138.1588 0.7353 0.6114 1.6716 0.5563 1.8381 77.0568 1.2043 1.3333 107.3316 0.9150 127.2455 140.8793 0.7230 0.6050 1.6508 0.5472 1.8254 76.68 1.1855 1.3159 106.58 0.9053 126.18 139.52 Bid- Ask- fwd fwd Comm / Terms FWD points points -6.32 10.10 AUD/USD 3M -10.16 1.83 AUD/EUR 3M 2.05 18.96 EUR/AUD 3M -6.98 6.80 AUD/GBP -24.13 31.92 GBP/AUD 3M -14.16 10.41 AUD/JPY 0.21 15.32 EUR/USD -16.66 8.54 GBP/USD -9.82 2.64 USD/JPY 3M -3.61 12.37 EUR/GBP -0.99 12.26 EUR/JPY 3M -19.71 15.92 GBP/JPY 3M AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY Bid- Ask- fwd fwd Comm / Terms FWD points points -6.90 7.42 AUD/USD 6M -18.61 -4.47 AUD/EUR 6M 16.25 41.77 EUR/AUD GM -8.21 20.92 AUD/GBP 6M -11.57 20.13 GBP/AUD 6M -13.94 1.44 AUD/JPY 6M 16.31 28.59 EUR/USD 6M -1.99 13.14 GBP/USD 6M -20.12 -6.73 USD/JPY 6M 3.19 20.44 EUR/GBP 6M 2.78 19.97 EUR/JPY GM -30.82 11.36 GBP/JPY 6M 1M 1M 1M 1M 1M 1M 1M 1M 1M 1M 1M 1M Bid- Ask- fwd fwd points points -6.04 8.16 -34.42-13.85 55.45 69.26 -10.08 4.71 -6.00 29.56 -35.47 -6.25 39.59 54.91 5.10 21.84 -47.51-19.28 18.04 37.00 21.10 -42.97 -11.16 1 5.94 Bank C Comm / Terms Bid Ask Mid Comm / Terms FWD 1M 1M 1M 1M AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY 0.6936 0.5824 1.6381 0.5398 1.8099 76.4908 1.1663 1.2887 106.5045 0.8994 126.3541 139.5277 0.7426 0.6164 1.6744 0.5628 1.8377 76.6392 1.2125 1.3212 106.5600 0.9291 126.4260 139.6023 0.7181 0.5994 1.6562 0.5513 1.8238 76.57 1.1894 1.3049 106.53 0.9143 126.39 139.57 AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY 1M 1M 1M 1M 1M 1M 1M Bid- Ask- fwd fwd Comm / Terms FWD points points -7.30 8.47 AUD/USD -9.52 1.66 AUD/EUR 3.47 17.80 EUR/AUD -7.96 6.25 AUD/GBP 3M -24.31 33.90 GBP/AUD -15.10 10.63 AUD/JPY 3M -0.78 15.19 EUR/USD -15.31 10.06 GBP/USD 3M -12.40 5.22 USD/JPY -2.70 12.93 EUR/GBP 3M -1.19 11.30 EUR/JPY 3M -19.78 13.64 GBP/JPY 3M Bid- Ask- fwd fwd Comm / Terms FWD points points -5.37 9.77 AUD/USD 6M -20.17 -1.11 AUD/EUR 6M 16.79 38.23 EUR/AUD 6M -8.64 18.11 AUD/GBP 6M -9.07 16.50 GBP/AUD 6M -15.98 1.58 AUD/JPY 6M 17.47 31.87 EUR/USD 6M 0.51 14.22 GBP/USD 6M -19.18 -5.37 USD/JPY 6M 6.68 18.94 EUR/GBP 6M 2.42 18.09 EUR/JPY 6M -27.11 10.54 GBP/JPY 6M Bid- Ask- fwd fwd points points -5.43 8.39 -34.14 -14.84 55.72 67.82 -11.89 1.55 -4.44 31.77 -33.08 -6.82 40.68 57.58 7.53 20.59 -43.95-19.25 20.45 34.85 5.39 20.88 -42.04 -12.00 1M Bank B Comm / Terms Bid Ask Mid Comm / Terms FWD 1M 1M 1M 1M 1M AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY 0.7129 0.5964 1.6310 0.5421 1.7947 75.9205 1.1763 1.2885 105.0405 0.8954 126.1304 138.6500 0.7428 0.6787 1.7807 0.5651 1.9603 79.6324 1.3118 1.4540 117.7199 1.0185 139.2388 147.6207 1M 0.7278 0.6375 1.7059 0.5536 1.8775 77.78 1.2440 1.3712 111.38 0.9569 132.68 143.14 Bid- Ask- fwd fwd Comm/ Terms FWD points points -6.39 7.27 AUD/USD -11.08 6.46 AUD/EUR 3M -5.20 20.38 EUR/AUD -9.96 10.36 AUD/GBP 3M -29.59 36.15 GBP/AUD -17.12 14.26 AUD/JPY 3M -0.77 21.01 EUR/USD 3M -16.44 10.49 GBP/USD 3M -15.38 8.57 USD/JPY -8.06 16.80 EUR/GBP 3M -7.25 18.59 EUR/JPY -21.14 20.61 GBP/JPY 3M AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY Bid- Ask- fwd fwd Comm / Terms FWD points points -7.10 7.14 AUD/USD 6M -19.50 -2.30 AUD/EUR 6M 17.26 40.90 EUR/AUD OM -8.95 20.16 AUD/GBP 6M -11.44 18.33 GBP/AUD 6M -15.16 -0.98 AUD/JPY 6M 15.37 33.54 EUR/USD 6M -5.35 15.27 GBP/USD 6M -20.64 -2.54 USD/JPY 6M 4.23 23.72 EUR/GBP 6M -1.27 18.49 EUR/JPY OM -31.47 11.43 GBP/JPY 6M Bid- Ask- fwd fwd points points -7.17 8.34 -35.49 -12.68 52.42 68.92 -12.88 6.50 -7.71 34.95 -33.48 -4.89 38.65 54.74 4.07 24.29 -44.60 -20.62 17.85 33.71 4.71 22.03 -42.77-14.05 1M 1M 1M 1M 1M 1M IN Bank A Comm / Terms Bid Ask Mid Comm / Terms FWD AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY 0.7107 0.5987 1.6301 0.5381 1.8126 76.3106 1.1668 1.2985 105.8222 0.8957 125.1046 138.1588 0.7353 0.6114 1.6716 0.5563 1.8381 77.0568 1.2043 1.3333 107.3316 0.9150 127.2455 140.8793 0.7230 0.6050 1.6508 0.5472 1.8254 76.68 1.1855 1.3159 106.58 0.9053 126.18 139.52 Bid- Ask- fwd fwd Comm / Terms FWD points points -6.32 10.10 AUD/USD 3M -10.16 1.83 AUD/EUR 3M 2.05 18.96 EUR/AUD 3M -6.98 6.80 AUD/GBP -24.13 31.92 GBP/AUD 3M -14.16 10.41 AUD/JPY 0.21 15.32 EUR/USD -16.66 8.54 GBP/USD -9.82 2.64 USD/JPY 3M -3.61 12.37 EUR/GBP -0.99 12.26 EUR/JPY 3M -19.71 15.92 GBP/JPY 3M AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY Bid- Ask- fwd fwd Comm / Terms FWD points points -6.90 7.42 AUD/USD 6M -18.61 -4.47 AUD/EUR 6M 16.25 41.77 EUR/AUD GM -8.21 20.92 AUD/GBP 6M -11.57 20.13 GBP/AUD 6M -13.94 1.44 AUD/JPY 6M 16.31 28.59 EUR/USD 6M -1.99 13.14 GBP/USD 6M -20.12 -6.73 USD/JPY 6M 3.19 20.44 EUR/GBP 6M 2.78 19.97 EUR/JPY GM -30.82 11.36 GBP/JPY 6M 1M 1M 1M 1M 1M 1M 1M 1M 1M 1M 1M 1M Bid- Ask- fwd fwd points points -6.04 8.16 -34.42-13.85 55.45 69.26 -10.08 4.71 -6.00 29.56 -35.47 -6.25 39.59 54.91 5.10 21.84 -47.51-19.28 18.04 37.00 21.10 -42.97 -11.16 1 5.94 Bank C Comm / Terms Bid Ask Mid Comm / Terms FWD 1M 1M 1M 1M AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY 0.6936 0.5824 1.6381 0.5398 1.8099 76.4908 1.1663 1.2887 106.5045 0.8994 126.3541 139.5277 0.7426 0.6164 1.6744 0.5628 1.8377 76.6392 1.2125 1.3212 106.5600 0.9291 126.4260 139.6023 0.7181 0.5994 1.6562 0.5513 1.8238 76.57 1.1894 1.3049 106.53 0.9143 126.39 139.57 AUD/USD AUD/EUR EUR/AUD AUD/GBP GBP/AUD AUD/JPY EUR/USD GBP/USD USD/JPY EUR/GBP EUR/JPY GBP/JPY 1M 1M 1M 1M 1M 1M 1M Bid- Ask- fwd fwd Comm / Terms FWD points points -7.30 8.47 AUD/USD -9.52 1.66 AUD/EUR 3.47 17.80 EUR/AUD -7.96 6.25 AUD/GBP 3M -24.31 33.90 GBP/AUD -15.10 10.63 AUD/JPY 3M -0.78 15.19 EUR/USD -15.31 10.06 GBP/USD 3M -12.40 5.22 USD/JPY -2.70 12.93 EUR/GBP 3M -1.19 11.30 EUR/JPY 3M -19.78 13.64 GBP/JPY 3M Bid- Ask- fwd fwd Comm / Terms FWD points points -5.37 9.77 AUD/USD 6M -20.17 -1.11 AUD/EUR 6M 16.79 38.23 EUR/AUD 6M -8.64 18.11 AUD/GBP 6M -9.07 16.50 GBP/AUD 6M -15.98 1.58 AUD/JPY 6M 17.47 31.87 EUR/USD 6M 0.51 14.22 GBP/USD 6M -19.18 -5.37 USD/JPY 6M 6.68 18.94 EUR/GBP 6M 2.42 18.09 EUR/JPY 6M -27.11 10.54 GBP/JPY 6M Bid- Ask- fwd fwd points points -5.43 8.39 -34.14 -14.84 55.72 67.82 -11.89 1.55 -4.44 31.77 -33.08 -6.82 40.68 57.58 7.53 20.59 -43.95-19.25 20.45 34.85 5.39 20.88 -42.04 -12.00 1M

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