As a trader for JP Morgan you see the following bid-ask quotes: 6-month euro deposit rate 0.50% - 0.70% p. 6-month Thai baht euro deposit rate 4.00%...
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As a trader for JP Morgan you see the following bid-ask quotes: 

6-month euro deposit rate 0.50% - 0.70%

p.a. 

6-month Thai baht euro deposit rate 4.00% - 4.50% p.a. 

Spot exchange rate THB/EUR 38.20 - 39.60 

6-month forward exchange rate THB/EUR 39.20 - 40.00 


Is there any opportunity for covered interest arbitrage? Use the euro as domestic currency and discuss your answer. 

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