With the information from the prior two questions, what is the implied Yen per dollar exchange rate? Copied from the prior problems, you also note that the exchange rate between the British Pound Sterling and the Japanese Yen is 1,400 Yen per pound. Assuming the law of one price holds: You are looking at buying a ton of steel for $2,000 in the US and also see that it is selling for 800 pounds sterling in the UK