2. Refer to the exchange rates given in the following table:

January 20, 2016 January 20, 2015 FX per $ FX per £ FX per € FX per $
Australia (dollar) 1.459 2.067 1.414 1.223 Canada (dollar) 1.451 2.056 1.398 1.209 Denmark (krone) 6.844 9.694 7.434 6.430 Eurozone (euro) 0.917 1.299 1.000 0.865 Hong Kong (dollar) 7.827 11.086 8.962 7.752 India (rupee) 68.05 96.39 71.60 61.64 Japan (yen) 116.38 164.84 136.97 118.48 Mexico (peso) 18.60 26.346 16.933 14.647 Sweden (krona) 8.583 12.157 9.458 8.181 United Kingdom (pound) 0.706 1.000 0.763 0.660 United States (dollar) 1.000 1.416 1.156 1.000 Data from: U.S. Federal Reserve Board of Governors, H.10 release: Foreign Exchange Rates.
Based on the table provided, answer the following questions:

a. Compute the U.S. dollar–yen exchange rate E$/C$ and the U.S. dollar–Canadian dollar exchange rate E$/C$ on January 20, 2016, and January 20, 2015.

b. What happened to the value of the U.S. dollar relative to the Japanese yen and Canadian dollar between January 20, 2015, and January 20, 2016? Compute the percentage change in the value of the U.S. dollar relative to each currency using the U.S. dollar–
foreign currency exchange rates you computed in (a).

c. Using the information in the table for January 20, 2016, compute the Danish krone–
Canadian dollar exchange rate Ekrone/C$.

d. Visit the website of the Board of Governors of the Federal Reserve System at http://www.federalreserve.gov/. Click on “Economic Research and Data” and then “Data Download Program (DDP).” Download the H.10 release Foreign Exchange Rates (weekly data available). What has happened to the value of the U.S. dollar relative to the Canadian dollar, Japanese yen, and Danish krone since January 20, 2016?

e. Using the information from (d), what has happened to the value of the U.S. dollar relative to the British pound and the euro? Note: The H.10 release quotes these exchange rates as U.S. dollars per unit of foreign currency in line with long-standing market conventions.