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Assume that the foreign exchange Markets in London and New York are efficient. Using the...

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Assume that the foreign exchange Markets in London and New York are efficient. Using the information in the table, what do financial markets suggest about the rate of the 1-year T-bill in New York? Variables Spot Rate ($ per ) 1-year T-bill Expected 1-year Inflation London 1.3 3.2% 5% New York 1.3 ? 7%

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