If the bid is $1.8709/GBP and the ask is $1.8841/GBP, what is the bid?ask spread in GBP/USD?
The bid-ask spread in European terms is foreign currency per dollar (FC/$) so you are being asked to convert the bid?ask spread to GBP/$. To convert to GBP/$ just take the reciprocal of each number and reverse the bid?ask spread.
1 / ($1.8709/GBP) = 0.5345 GBP/$ and 1 / ($1.8841/GBP) = 0.53076 GBP/$. The bid?ask spread is now 0.5308 ? 0.5345.
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