They pronounce it as an "H" in the hiragana and it's katakana counterpart is ment to be "H" but is used for "F" and since katakana is getting more popular now as globalization sets in it's starting to be more used for the "F" sound, it's still not exactly Freed even with the "H" going to "F" :>
Actually, "hu" (ふ/フ) is even in hiragana pronounced as a somethig in between hu and fu. That has nothing to do with globalization, since there are really old words that have been pronounced this way for a long time. like: [台風 = たいふう = taifuu = Typhoon]
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