The Dollar/Yen exchange rate will drop below 80 Yen per Dollar any day on or before February 1, 2008. The source will be the Federal Reserve's Daily Foreign Exchange Rates FRB H.10 release available at http://www.federalreserve.gov/releases/h10/update/ .
In 1995 the Dollar/Yen set a record low in the low 80's, it has traded mostly between 115 and 125 over the last two years. The Federal Reserve reports an exchange rate of 110.59 as of October 2, 2003.
Foreign Exchange is a 24 hour market, so the concept of "close" is not very meaningful. For the purposes of this claim the daily number released by the Federal Reserve will be the relevant one, even if the Yen is determined through some other source to have traded below 80 at some point during the day. As of October 8, 2003, the Fed's daily quote is for noon New York time, but the Federal Reserve may change that in the future. If so the judge will use whatever rate the Federal Reserve releases. If the Federal Reserve no longer releases foreign exchange buying rates, then the judge will determine a suitable replacement and post it in the judge's statement.
Federal Reserve Foreign Exchange Rates h10 -- Daily Update:
Other Fed FX Releases:
Federal Reserve Foreign Exchange Rates -- Historical Data:
In cases of ambiguity, I will judge this claim by its intent, not its wording.