Question: At time , $1.2 - 1 pound ($1.2/) and 1.5 Euro = 1 pound (1.5/). At time t+I. $1.22=1 pound ($1.22/E) and 1.54 Euro -

At time , $1.2 - 1 pound ($1.2/) and 1.5 Euro = 1 pound (1.5/). At time t+I. $1.22=1 pound ($1.22/E) and 1.54 Euro - 1 pound (E1.54/E). 1. The pound has (appreciated/depreciated) against the dollar. (0.5 points) 2. The dollar has (appreciated/depreciated) against the pound. (0.5 points) 3. The Euro has (appreciated/depreciated) against the pound. (0.5 points) The pound has (appreciated/depreciated) against the Euro. (0.5 points)

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