The diagram illustrates the quantities of US dollars ($) and Euros (€) received for one pound sterling (£) between 2002 and 2004. What changes occurred in the exchange rate of the $ relative to the £ and € during 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