The website of the Federal Reserve Board of Governors provides exchange rate trends of various currencies. Its address is https://www.federalreserve.gov/releases/g5/current/default.htm.

1. Click on the section Foreign Exchange Rates monthly. Use this Web page to determine how exchange rates of various currencies have changed in recent months. Note that most of these currencies (except the British pound, the Australian dollar, the euro, the New Zealand dollar) are quoted in units per dollar. In general, have most currencies strengthened or weakened against the dollar over the last 3 months? Offer one or more reasons to explain the recent general movements in currency values against the dollar.

2. Does it appear that the Asian currencies move in the same direction relative to the dollar? Does it appear that the Latin American currencies move in the same direction against the dollar? Explain.