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Assume the following (Japanese yen is the foreign currency): Spot rate 115.83/$ 3-month forward 117.92/$ Is the Japanese yen trading at a premium or discount

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Assume the following (Japanese yen is the foreign currency): Spot rate 115.83/$ 3-month forward 117.92/$ Is the Japanese yen trading at a premium or discount and if so by how much? Show your work

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