Using Bloomberg you find that, on March 20 2005, the 3-month annualized euro-currency rates (i.e. the interest rates used for interbank transactions, and at the time almost risk-free) were about: USD 5.34%, JPY 0.59%. Based on this information, should the Yen then have been trading at a forward discount or premium against the $? Explain briefly. (3 points) (Hint: Recall that a Forward Premium is the difference between the value of a specific currency on the spot market and the exchange rate obtained through a forward contract.)