Question: Exchange rates can experience sudden changes as well as long-run patterns. a. Plotthe U.S. dollar-Australian dollar exchange rate (FRED code: EXUSAL) without recession bars and

Exchange rates can experience sudden changes as well as long-run patterns.
a. Plotthe U.S. dollar-Australian dollar exchange rate (FRED code: EXUSAL) without recession bars and identify long-run swings and short-term spikes. Which currency is appreciating when the plotted exchange rate falls?
b. Repeatthe exercise for the Japanese yen-U.S. dollar exchange rate (FRED code: EXJPUS.

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