Cable is quoted at 1.6075-80 and you say "5 yours!" to the broker. What have you done?
A) Sold USD 5 million at 1.6075
B) Sold GBP 5 million at 1.6075
C) Bought GBP 5 million at 1.60B0
D) Bought USD 5 million at 1.6080

Question

Quizplus · Accepted Answer

Saying "5 yours" to the broker means you are selling 5 million of the quoted currency, which in this case is GBP, at the bid price of 1.6075. Therefore, the correct answer is B - Sold GBP 5 million at 1.6075.

Cable Is Quoted at 1