Monthly data on: Japanese Yen short interest rates (JPYSI) US interest rates (USDSI) Yen/USD exchange rates (JPYUSD) from July 1978 to December 1998 DATE JPYSI USDIS JPYUSD 7807 2.875 8.125 0.0053 7808 1.625 8.625 0.0053 7809 3.3125 9.5 0.0053 7810 0.9375 9.875 0.0056 7811 0.4375 11.25 0.005 7812 -0.5 11 0.0051 7901 1.7188 10.25 0.0049 7902 2.5625 9.75 0.0049 7903 6.5313 10.375 0.0048 7904 4.875 10.5625 0.0045 7905 5 10.375 0.0045 7906 5.0313 10.9375 0.0046 7907 5.7188 11 0.0046 7908 7.0938 11.8125 0.0045 7909 7.0313 13 0.0045 7910 5.4063 14.25 0.0042 7911 8.6875 14.5 0.004 7912 7.75 14.375 0.0042 8001 7.5 14.0625 0.0042 8002 10.1812 16.0625 0.004 8003 14.75 20.25 0.004 8004 11.6875 13.375 0.0042 8005 13.375 10.625 0.0045 8006 13.4375 9.625 0.0046 8007 12.625 9.5 0.0044 8008 11.625 11.5 0.0046 8009 11.875 13.5587 0.0047 8010 10 15.375 0.0047 8011 10.375 19.5 0.0046 8012 7.875 19.0625 0.0049 8101 8.3125 17.625 0.0048 8102 8.6875 16.75 0.0048 8103 7.875 14.125 0.0047 8104 6.8125 17.875 0.0046 8105 7.25 18.0625 0.0045 8106 7 18.125 0.0044 8107 6.8125 20.125 0.0042 8108 7.25 18 0.0044 8109 7.25 16.625 0.0043 8110 6.5625 15 0.0043 8111 7.5 11.75 0.0047 8112 6.1875 13.125 0.0046 8201 6.125 14.25 0.0044 8202 6.375 14.625 0.0042 8203 6.875 15.5 0.004 8204 6.9375 15 0.0042 8205 7.1875 14.25 0.0041 8206 7.3125 15.375 0.0039 8207 6.8125 12.3125 0.0039 8208 7.25 11 0.0038 8209 7.0625 11 0.0037 8210 6.75 9.6875 0.0036 8211 7.5625 9.4375 0.004 8212 6.75 9.1875 0.0043 8301 6.6875 9.125 0.0042 8302 6.875 8.6875 0.0042 8303 6.4375 9.4375 0.0042 8304 6.1875 8.875 0.0042 8305 6.5938 9.1875 0.0042 8306 6.5 9.5 0.0042 8307 6.5625 9.875 0.0041 8308 6.75 10 0.0041 8309 6.6875 9.375 0.0042 8310 6.1875 9.5 0.0043 8311 7.4375 9.75 0.0043 8312 6.25 9.8125 0.0043 8401 6.125 9.5625 0.0043 8402 6.6875 9.875 0.0043 8403 6.25 10.5 0.0045 8404 6.0313 10.6875 0.0044 8405 6.375 11 0.0043 8406 6.0625 11.8125 0.0042 8407 6.1875 11.5625 0.0041 8408 6.375 11.8125 0.0041 8409 6.188 11.125 0.0041 8410 6.2188 9.8125 0.0041 8411 6.5938 8.875 0.004 8412 6.1563 8.4375 0.004 8501 6.2188 8.4375 0.0039 8502 6.5313 8.875 0.0039 8503 6.2813 8.6875 0.004 8504 6.1875 8.375 0.004 8505 6.375 7.625 0.004 8506 6.25 7.625 0.004 8507 6.3125 8.0938 0.0042 8508 6.5 8 0.0042 8509 6.41 8 0.0046 8510 7.5625 7.9375 0.0047 8511 8.25 8.125 0.0049 8512 7.1875 8.0625 0.005 8601 6.4375 8 0.0052 8602 6.5625 7.875 0.0055 8603 5.5938 7.4375 0.0056 8604 4.969 6.875 0.006 8605 4.8125 7.0625 0.0057 8606 4.719 6.938 0.0061 8607 4.7813 6.4375 0.0065 8608 5.1563 5.75 0.0065 8609 4.9688 6.0625 0.0065 8610 4.3125 5.875 0.0061 8611 4.6875 6.3125 0.0062 8612 4.5938 6.5625 0.0063 8701 4.4375 6.125 0.0065 8702 4.594 6.375 0.0065 8703 3.9688 6.5 0.0069 8704 3.9688 6.75 0.0071 8705 4.0313 7.1875 0.0069 8706 3.8438 7 0.0068 8707 3.594 6.688 0.0067 8708 3.9688 7.0625 0.007 8709 4.313 7.688 0.0068 8710 4.313 7.063 0.0072 8711 4.688 8.063 0.0076 8712 4.25 7.125 0.0082 8801 4.125 6.688 0.0078 8802 4.438 6.75 0.0078 8803 4.063 6.688 0.0081 8804 3.8438 7.0625 0.008 8805 4.125 7.5 0.008 8806 4.188 7.75 0.0075 8807 4.4375 8.0625 0.0075 8808 5 8.313 0.0073 8809 4.688 8.313 0.0075 8810 4.313 8.313 0.008 8811 4.563 9.438 0.0082 8812 4.5 9.063 0.008 8901 4.25 9.063 0.0077 8902 4.75 10 0.0079 8903 4.375 10 0.0076 8904 4.5 9.813 0.0075 8905 5 9.625 0.007 8906 5.3125 9.4375 0.0069 8907 5.1875 8.625 0.0073 8908 5.5625 8.9375 0.0069 8909 5.5625 9.0625 0.0072 8910 6.25 8.6875 0.007 8911 6.6875 8.75 0.007 8912 6.6875 8.4375 0.007 9001 6.6875 8.25 0.0069 9002 7.1875 8.3125 0.0067 9003 7.3125 8.3125 0.0064 9004 7.25 8.4375 0.0063 9005 7.3125 8.25 0.0066 9006 7.5 8.25 0.0066 9007 7.5625 7.9375 0.0068 9008 8.1875 8 0.007 9009 8.1875 8.25 0.0072 9010 8 7.875 0.0077 9011 8.5625 8.6875 0.0075 9012 8.25 7.5625 0.0074 9101 8.0625 6.875 0.0076 9102 8.5469 6.9375 0.0075 9103 8.0625 6.3125 0.0071 9104 8.1563 5.9375 0.0073 9105 7.8438 5.875 0.0072 9106 8.0625 6 0.0073 9107 7.4063 5.875 0.0073 9108 7.5625 5.625 0.0073 9109 6.7813 5.375 0.0075 9110 6.3125 5.0625 0.0077 9111 6.625 5.125 0.0077 9112 5.6875 4.25 0.008 9201 5.4375 4.125 0.008 9202 5.5625 4.1875 0.0077 9203 5.5 4.1875 0.0075 9204 4.7813 3.875 0.0075 9205 4.8438 3.9375 0.0078 9206 4.7188 3.8438 0.0079 9207 4.0938 3.3125 0.0079 9208 4.0938 3.375 0.0081 9209 4.1563 3.125 0.0083 9210 3.875 3.1875 0.0081 9211 3.9688 4.1875 0.008 9212 3.9063 3.25 0.008 9301 3.5 3.125 0.008 9302 3.2188 3.125 0.0085 9303 3.2813 3.125 0.0087 9304 3.2188 3.0625 0.009 9305 3.25 3.1875 0.0093 9306 3.2188 3.125 0.0094 9307 3.25 3.125 0.0095 9308 2.9688 3.125 0.0096 9309 2.5313 3.125 0.0094 9310 2.4688 3.125 0.0092 9311 2.2813 3.5 0.0092 9312 2.3438 3.1875 0.009 9401 2.2813 3.0625 0.0092 9402 2.4063 3.5625 0.0096 9403 2.25 3.625 0.0097 9404 2.2813 3.9375 0.0099 9405 2.125 4.25 0.0096 9406 2.0625 4.5 0.0101 9407 2.0938 4.4375 0.01 9408 2.2188 4.8125 0.01 9409 2.2813 5 0.0101 9410 2.2813 5 0.0103 9411 2.3438 6 0.0101 9412 2.3438 5.9375 0.01 9501 2.281 6 0.0101 9502 2.3125 6.0625 0.0103 9503 1.8438 6.0625 0.0116 9504 1.4063 6 0.0119 9505 1.25 6 0.0118 9506 1.25 6.0625 0.0118 9507 0.8438 5.75 0.0114 9508 0.6875 5.8125 0.0102 9509 0.4844 5.75 0.0101 9510 0.3438 5.75 0.0098 9511 0.375 5.75 0.0098 9512 0.375 5.5938 0.0097 9601 0.5 5.3125 0.0094 9602 0.938 5.188 0.0095 9603 0.563 5.25 0.0094 9604 0.5625 5.2813 0.0095 9605 0.5313 5.2813 0.0093 9606 0.4063 5.375 0.0091 9607 0.375 5.3438 0.0094 9608 0.4375 5.3125 0.0092 9609 0.4063 5.3438 0.009 9610 0.5 5.2188 0.0088 9611 0.3594 5.4375 0.0088 9612 0.2656 5.4219 0.0086 9701 0.5469 5.3906 0.0082 9702 0.4 5.37 0.0083 9703 0.5938 5.625 0.0081 9704 0.5468 5.6093 0.0079 9705 0.5156 5.6093 0.0086 9706 0.5 5.5937 0.0087 9707 0.5 5.5469 0.0084 9708 0.5625 5.5937 0.0083 9709 0.4843 5.5938 0.0083 9710 0.4531 5.5938 0.0083 9711 0.0781 5.9063 0.0078 9712 0.2187 6.0625 0.0077 9801 0.5 5.5313 0.0079 9802 1.3125 5.5938 0.0079 9803 0.7344 5.5938 0.0075 9804 0.6094 5.625 0.0076 9805 0.4219 5.5625 0.0072 9806 0.4219 5.5938 0.0072 9807 0.4687 5.5625 0.0069 9808 0.8125 5.5625 0.0071 9809 0.4687 5.2969 0.0073 9810 0.1719 5.2188 0.0086 9811 0.1406 5.5625 0.0081 9812 0.25 5 0.0089