Let’s look at the U.S. to U.K. foreign exchange rate using the FRED economic database (https://fred.stlouisfed.org). Search for US/UK Foreign Exchange Rate then change the beginning date to Jan 1, 2016. 

a. On June 23, 2016, how many dollars did it take to buy one British pound? 

b. On June 27, 2016, how many dollars did it take to buy one British pound?

c. Over the time period, did the British pound appreciate or depreciate? Does this suggest an increased demand to hold pounds or a decreased demand to hold them?

d. What political event happened to cause such a change in the exchange rate? Why did this event cause an appreciation/depreciation (as per your answer to c)?