The diagram illustrates how many US dollars ($) and Euros (€) were 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