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Consider a U.S. commercial bank that borrows funds in England for one year denominated in English pounds. Why would the investor wish to enter into a swap contract? As the: A. English pound decreases in value, it takes more U.S. dollars to pay off the English liability. B. U.S. interest rate increases, the value of the English liability increases. C. English pound increases in value, it takes more U.S. dollars to pay off the English liability. |