NO.PZ201512020800000104
问题如下:
4. The factor least likely to lead to a narrow bid/offer spread for the industrial company’s needed currency trade is the:
选项:
A.timing of its trade.
B.company’s credit rating.
C.pair of currencies involved.
解释:
B is correct.
While credit ratings can affect spreads, the trade involves spot settlement, i.e. two business days after the trade date, so the spread quoted to this highly rated (AA) firm is not likely to be much tighter than the spread that would be quoted to a somewhat lower rated (but still high quality) firm. The relationship between the bank and client, the size of the trade, the time of day the trade is initiated, the currencies involved and the level of market volatility are likely to be more significant factors in determining the spread for this trade.
考点:factors that affect the bid/offer spread 其中的一个因素。
解析: 存在四个影响银行间市场间BID-ASK的SPREAD的因素,它们分别是交易币种、交易时间短、市场的波动性以及远期汇率间的SPREAD.
在本题中,日元和欧元是属于经常交易的货币,所以会降低SPREAD.
本题中交易时间在纽约时间6点到8点之间,这属于最大两个交易市场开市时间,所以也会降低SPREAD.
B选项不属于上述四个影响因素,公司信用好坏,通常不影响即期汇率的报价,所以本题中不予考虑。
窄区间的货币都有什么?日元属于窄区间还是宽区间的货币?