Question: Take a look at the JPY/USD quotes in 4 different markets. Which of the following trading strategies represents a profitable arbitrage? Buy in Market 1,

Take a look at the JPY/USD quotes in 4 different markets. Which of the following trading strategies represents a profitable arbitrage? Buy in Market 1, and Sell in Market 4 Buy in Market 3, and Sell in Market 1 Buy in Market 3, and Sell in Market 2 Market Maker 1 2 3 4 Bid 138.83 138.81 138.81 138.82 Ask 138.85 138.83 138.82 138.84

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