R23. EOC Exhibit1

Expected one-year currency appreciation in percent (USD per JPY): 0.6

Does it mean USD will apprecaite or depreciate…??

My thought is now JPY is base currecny so USD depreciate 0.6% agn JPY?


Frank, it’s been a few weeks since I’ve received FI… i be;ieve you are correct.

in that instance, JPY is base currency. any movement (increase/decrease) in USD/JPY means that JPY is increasing/decreasing, and the opposite for the USD.

That’s how they’re interpreting it.

I’d hate to see such an ambiguous table on the real exam.

Thanks! USD per JPY… oh my god, it’s really let me feel dizzy…