In conversation, interbank foreign exchange traders use a shorthand abbreviation in expressing spot currency quotations. Consider a $/£ bid-ask quote of $1.2519-$1.2523. The currency dealer would likely quote that as .
A) 19-23
B) 23-19
C) 4 points
D) none of the options

The answer is A. 19-23

Explanation:

The bid price is the price that the dealer is willing to buy and ask price is the price that the seller is willing to offer.

In the $/£ bid-ask quote of $1.2519-$1.2523, you would notice that the first three number(1.25) are the same for both the bid and ask quite. So it is a known fact that it is always the last two that is chosen.

The difference between bid and ask price is called spread.

Option B is wrong because it was written incorrectly.

rational decision making is a multi-step process for making choices between alternatives. the process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. the word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

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