Assume that you had dollar quotes for the Japanese yen and the British pound.If you want to know the yen/pound exchange rate,you would rely on:

Question

Quizplus · Accepted Answer

Cross rates are used to calculate the exchange rate between two currencies when those currencies are not directly quoted against each other. In this case, the Japanese yen and the British pound are not directly quoted against each other, so you would need to use cross rates to calculate their exchange rate.

Assume That You Had Dollar Quotes for the Japanese Yen