Please show full working out and description for question iii b Suppose alphas currency... to gain both marks for this question. Thank you

Alpha and Beta are two countries. Alpha uses dollars ($) and Beta uses pounds (f). Treat Alpha as the home country and define the bilateral exchange rate as the number of pounds that exchange for one dollar: e= fe | th The following table provides some annual exchange rate data. e 2016 0.6 2017 0.56 2018 0.50 2019 0.45(iii) Suppose the government of Alpha decided to fix the exchange rate in 2019 to its value in 2016. (a) Use a diagram to illustrate the foreign exchange market for Alpha in 2019. Describe any actions being undertaken by the central bank. (2 marks] (b) Suppose Alpha's currency was subject to a speculative attack in 2019. Explain what this would involve. (2 marks)