Question: On February 2 8 , 2 0 2 1 , the spot rate between the U . S . dollar ( USD ) and the

On February 28,2021, the spot rate between the U.S. dollar (USD) and the Japanese yen (JPY) was $1USD=106.553JPY, while the 3-month forward rate was $1USD=106.474JPY. Thus, the U.S. dollar was selling at a premium against the Japanese yen.
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On February 28,2021, the spot rate between the U.S. dollar (USD)

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