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Assume that the JPY/USD FX rate is: X0JPY/USD = 105, which of the following two statements is correct? S1: The JPY/USD exchange rate is quoted

Assume that the JPY/USD FX rate is: X0JPY/USD = 105, which of the following two statements is correct? S1: The JPY/USD exchange rate is quoted in European terms. S2: The same exchange rate can be expressed as X0USD/JPY = 0.0095. S2 is correct but S1 is false (wrong) Both statements are correct S1 is correct and S2 is false Both statements are false

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