Question：
A Japanese exporter will sell U.S. dollars for Japanese Yen in the quote-driven currency markets. Which of the following statements best describes her currency exchange transactions?
A. Her counterparties are dealers.
B. This currency exchange transaction takes place in organized exchanges.
C. She will pay commissions for exchange services.
Answer = A
In the quote-driven currency markets, dealers are counterparties to currency exchange transactions.
CFA Level I
"Market Organization and Structure," Larry Harris
Section 8.2
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