Which of the following statements is correct?

Select one:

a.

As the U.S. dollar appreciates against the Japanese yen, U.S. goods become less expensive to Japanese consumers.

b.

A positive net exposure position in FX implies the FI is net short in a currency.

c.

To a U.S. trader of foreign currencies, a direct quote indicates U.S. dollars received for each one unit of the foreign currency.

d.

Both a and b

e.

Both b and c

Clear my choice