The diagram illustrates the numbers of US dollars ($) and Euros (€) that could be exchanged for one pound sterling (£) from 2002 to 2004. What change took place in the exchange rate of the $ relative to the £ and € over this period?
- A$ exchange rate against £ appreciated; $ exchange rate against € appreciated
- B$ exchange rate against £ appreciated; $ exchange rate against € depreciated
- C$ exchange rate against £ depreciated; $ exchange rate against € appreciated
- D$ exchange rate against £ depreciated; $ exchange rate against € depreciated