Use the information inFigure 21.1to answer the following questions:

a. The six-month forward rate for the Japanese yen is Y__________ per U.S. dollar. The yen is selling at a rate of _______ because it is _______ in the forward market than in the spot market.

b. The three-month forward rate for the Australian dollar is $_________ per Australian dollar. The Australian dollar is selling at a ________ because it is _______ in the forward market than in the spot market.

c. Based on the information in the figure, the value of the U.S. dollar will _______ with respect to the yen and will ________ with respect to the Australian dollar.