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Assume that the Yuan is pegged to the USD and the Candian dollar floats freely against the USD and suppose that the following two scenarios

Assume that the Yuan is pegged to the USD and the Candian dollar floats freely against the USD and suppose that the following two scenarios occur: Scenario 1: China imposes tariffs on US goods. Scenario 2: Canadians demand the new iphone from US company Apple. Scenario 1 will cause ___ in the Yuan relative to the USD and Scenario 2 will cause the USD to __ relative to the Canadian dollar

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