Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
USD/JPY was on the defensive for the third day in a row on Monday, although Asia managed to hold above the 145.00 psychological mark. Speculation that Japanese authorities may intervene…
