A quote EUR/AUD 1.6035-37 has a spread of _ points.Question 8Select one:a.0.012%b.60c.35d.2
Question
A quote EUR/AUD 1.6035-37 has a spread of _ points.
Question 8
Select one:
- a. 0.012%
- b. 60
- c. 35
- d. 2
Solution
The spread of a currency quote is the difference between the bid price and the ask price. In the given quote EUR/AUD 1.6035-37, the bid price is 1.6035 and the ask price is 1.6037.
Step 1: Identify the bid and ask prices. Here, bid price = 1.6035 and ask price = 1.6037.
Step 2: Calculate the spread. Spread = Ask price - Bid price = 1.6037 - 1.6035 = 0.0002.
Step 3: Convert the spread into points. 1 point is equivalent to 0.0001. Therefore, 0.0002 spread is equivalent to 2 points.
So, the answer is d. 2.
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