Am co purchases a futures contract specifying gbp100000, Financial Management

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Am co purchases a futures contract specifying gbp100000

A&M Co. purchases a futures contract specifying GBP100,000 with the June settlement date. This futures contract is priced at C$1.63/GBP. On February 1st, A&M realizes that it has no need for GBP in June. It thus sells a futures contract specifying GBP100,000 with the June settlement date. This futures contract is priced at C$1.68/GBP. What is the result of these transactions to A&M Co.?

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Financial Management: Am co purchases a futures contract specifying gbp100000

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Financial Management: Am co purchases a futures contract specifying gbp100000

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