On February $28,2021,$ the spot rate between the U$.$S$.$ dollar $($USD$)$ and the Japanese yen $($JPY$)$ was $$1$USD$=106\mathrm{.}553JPY,$ while the $3-$month forward rate was $$1$USD$=106\mathrm{.}474JPY.$ Thus, the U$.$S$.$ dollar was selling at a premium against the Japanese yen.

True

False