In a floating exchange market, the exchange rate for pesos and yen will not change when

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In a floating exchange market, the exchange rate fluctuates based on the supply and demand for each currency. When pesos and yen trade at the equilibrium exchange rate, it means that the supply and demand for each currency is balanced, and therefore there is no reason for the exchange rate to change. However, if the yen trades at a rate below the equilibrium level or the peso trades at a rate above the equilibrium level, it indicates an imbalance in the supply and demand for each currency, which will lead to a change in the exchange rate.

In a Floating Exchange Market, the Exchange Rate for Pesos