A dealer in New York offers to buy U.K. pounds for $1.4500 and sell them for $1.4522. The different prices are due to

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The different prices offered by the dealer are due to the bid-ask spread, which is the difference between the buying and selling price of a currency. The dealer is buying at a lower price of $1.4500 and selling at a higher price of $1.4522, which represents their profit margin.

A Dealer in New York Offers to Buy U