A US firm sells merchandise to a British company for 100,000 pounds. The current exchange rate is $2.03/1 pound. The account is payable in 3 months, and the firm chooses to avoid any hedging techniques designed to reduce or elimate exchange rate risk. The US firm is at risk today of a loss if:

A) exchange rate changes to $2.00/ 1 pound

B) exchange rate changes to $2.05/ 1 pound

C) no change to rate

D) all of the above