Final answer:
The bid-ask spread is the difference between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept. The closest answer to the bid ask spread in percentage terms is 1.65%.
Step-by-step explanation:
The bid-ask spread is the difference between the highest price a buyer is willing to pay (the bid) and the lowest price a seller is willing to accept (the ask) for a particular security or currency. In this case, the bid is 1.26975 and the ask is 1.26996. To calculate the spread in percentage terms, we can use the formula: (Ask - Bid) / Ask * 100.
(1.26996 - 1.26975) / 1.26996 * 100 = 0.0165 = 1.65%
Therefore, the closest answer to the bid ask spread in percentage terms is a) 1.65%