4. This question will make you explore the GBP / USD exchange rate relationship in this year.

(a) Figure out the average spot rate for these 2 currencies for April 18th 2016 and April 18th 2017. (Cite the source.)

(b) Then calculate to the second decimal place in percentage terms how much: (5 pts)

(i) USD has appreciated.

(ii) GBP has depreciated.

c) What is the 1 month and the 6 month forecast for this pairs exchange rate? Which currency is becoming stronger and by what %? (Cite the source make sure it is a reliable one) (5 pts)