The symbol ¥ is primarily recognized as the Japanese Yen currency sign, but its use in mathematical expressions, such as 2^4 ¥ 3^2, raises confusion. Participants in the discussion are unsure of its intended meaning, as it does not align with standard mathematical symbols like greater than. Despite researching the symbol in textbooks and online, no relevant definition is found, leading to speculation about a possible error in the source material from GLencoe/McGraw-Hill. The discussion also touches on the character's representation in Unicode, which does not clarify its usage in this context. Overall, the ambiguity surrounding the symbol suggests a potential mistake in the original problem statement.