The 1-year interest rates in the United Kingdom and United States were 0.471%/year and 1.771%/year, respectively.

The 1-year interest rates in the United Kingdom and United States were

0.471%/year and 1.771%/year, respectively. What was the ap-

proximate percent difference between the spot and one-year-forward foreign-exchange

rates of these two countries given by the diferential on that day?