The Mexican Peso, the Japanese Yen, and Pokemon Go

Read "The Mexican Peso, the Japanese Yen, and Pokemon Go", and provide your response to the following questions.

1. Why are most trades between the Japanese yen and the Mexican peso made through U.S. dollars?
2. Explain why the peso fell in value against the Japanese yen during 2016. How predictable was this fall?
3. What were the benefits of the fall in the value of the peso against the yen for Mexican companies? What were the costs?
4. What were the benefits of the fall in the value of the peso against the yen for Japanese companies? What were the costs?
5. Should Japanese companies such as Nintendo and Toyota with business in Mexico have hedged against adverse changes in the peso/yen exchange rate? How might they have done that?