Question: As a foreign exchange trader at Sumitomo Bank, one of your customers would like a yen quote on Australian dollars. Current market rates are:
Spot 30-day
¥101.37-85/U.S.$1 15-13
A$1.2924-44/U.S.$1 20-26
Q1. What bid and ask yen cross rates would you quote on spot Australian dollars?
Q2. What outright yen cross rates would you quote on 30-day forward Australian dollars?
Q3. What is the forward premium or discount on buying 30-day Australian dollars against yen delivery?