This is regarding FTX Equillibrium graphs and FTX Rates:

In March $2024,$ the Bank of Japan raised rates for the first time in $17$ years, and they raised rates again in July. The Fed, meanwhile, started cutting interest rates in September $2024.$ Yet the spread between $10-$year Treasuries and $10-$year Japanese Government Bonds widened from roughly $2\mathrm{.}90$ ppt to $3\mathrm{.}34$ ppt over the last $3$ months...

Q: Based on our model of exchange rate determination, would we expect the dollar to have appreciated or depreciated against the yen over the last year? Why? Which curves would shift in our model?

Q: Does the uncovered interest parity condition suggest the dollar will appreciate or depreciate against the yen in the future? Explain