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. Is the euro appreciating or depreciating against the U.S. dollar? Explain . Is the Swiss franc appreciating or depreciating against the U.S. dollar? Why?

. Is the euro appreciating or depreciating against the U.S. dollar? Explain

. Is the Swiss franc appreciating or depreciating against the U.S. dollar? Why?

Is the Mexican peso appreciating or depreciating against the U.S. dollar? Why?

Using cross-rates, based on the spot rate, how many francs will the euro buy, how many pesos will the franc buy, and how many euro will the peso buy?

	US$ per 1 euro	US$ per 1 franc	Mexican peso per US$1
Spot rate	1.21	1.03	19.68
30-day forward rate	1.19	1.06	20.15
60-day forward rate	1.15	1.07	21.28

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