Exchange Rates for several countries are shown below. The MLC Company which is based in the U.S does business with companies in those countries.

	Yen Per $1	$Per Pound	Peso per $1
Spot	100.96	1.30	19.68
30 DAY FORWARD	99.25	1.35	21.35
90 DAY FORWARD	98.17	1.45	22.61
180 DAY FORWARD	97.55	1.49	23.64

A.Is the U.S. dollar appreciating or depreciating against the Japanese yen? Explain.

b. Is the U.S. dollar appreciating or depreciating against the British pound? Why?

c. Is the U.S. dollar appreciating or depreciating against the Mexican peso? Why?

d. The U.S. company orders merchandise from companies in Japan, Britain, and Mexico, and pays in the foreign currency of each country at the end of 3 months. From a foreign exchange standpoint, would it be to the advantage of the U.S. company to pay any of the suppliers now instead of waiting 3 months? Why or why not?

e. From (d) above, who bears the foreign exchange risk, the U.S. company or the foreign suppliers? Explain.