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48. A research report produced by a dealer includes the following exchange rates: Spot Rate Expected Spot Rate in One Year USD/EUR 1.3960 1.3860 USD/CAD

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48. A research report produced by a dealer includes the following exchange rates: Spot Rate Expected Spot Rate in One Year USD/EUR 1.3960 1.3860 USD/CAD 1.0110 1.0300 EUR/GBP 1.2850 1.2790 The expected appreciation (%) of the Canadian dollar (CAD) relative to the British pound (GBP) is closest to: A. -3.00. B. 3.09. C. 0.70

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