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1. Pound/dollar currency pair's value changed from lx.18'S to 15.x3/S. a. Is this an appreciation or depreciation for dollar? Why? b. By what percentage did

1. Pound/dollar currency pair's value changed from lx.18'S to 15.x3/S. a. Is this an appreciation or depreciation for dollar? Why? b. By what percentage did currency pair's value change? (15 pts)

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