An investor is examining exchange rates in London and New York. For simplicity, all rates are quoted versus the U.S. dollar. In New York: the British pound rate is $1.57, the euro rate is $1.48, the Canadian dollar rate is 0.74 Canadian dollar, and the Yen rate is 108 Yen.

In London: the British pound rate is $1.61, the euro rate is $1.44, the Canadian dollar rate is 0.77 Canadian dollar, and the Yen rate is 110 Yen.

Which of the following is true?

	A.	the $1.57 rate is indirect for the pound and direct for the dollar
	B.	the $1.57 rate is direct for the pound and direct for the dollar
	C.	the $1.57 rate is indirect for the pound and indirect for the dollar
	D.	the $1.57 rate is direct for the pound and indirect for the dollar

An investor is examining exchange rates in London and New York. For simplicity, all rates are quoted versus the U.S. dollar. In New York: the British pound rate is $1.57, the euro rate is $1.48, the Canadian dollar rate is 0.74 Canadian dollar, and the Yen rate is 108 Yen.

In London: the British pound rate is $1.61, the euro rate is $1.44, the Canadian dollar rate is 0.77 Canadian dollar, and the Yen rate is 110 Yen.

The euro rate in London just changed to $1.45.

	A.	the euro appreciated and the dollar depreciated
	B.	the euro appreciated and the dollar appreciated
	C.	the euro depreciated and the dollar appreciated
	D.	the euro depreciated and the dollar depreciated