Q: given a pair of bid/ask quotes in fx swap point, what kind of trades are we talking about implicitly?
A: dealer is sell/Buy ccy1. The spot leg is sell ccy1. The far leg is Buy ccy1.
Note we are taking the dealer's position, not the market-taker's.
Note "bid" refers to the far leg, not the near leg.
Note ccy1 (not ccy2) is the asset being traded.
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