Cable is quoted at 1.5575-80 and you say "5 yours!" to the broker. What have you done?
A) Sold USD 5,000,000.00 at 1.5575
B) Sold GBP 5,000,000.00 at 1.5575
C) Bought GBP 5,000,000.00 at 1.5580
D) Bought USD 5,000,000.00 at 1.5580

Question

Quizplus · Accepted Answer

By saying "5 yours!", you are telling the broker to sell 5 million of the base currency, which in this case is GBP. Therefore, you have sold GBP 5,000,000.00 at the bid price of 1.5575.

Cable Is Quoted at 1