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Assume that you are in Germany. The current spot exchange rate of the Euro (EUR) against the US dollar (USD) is 0.8426 EUR per USD

Assume that you are in Germany. The current spot exchange rate of the Euro (EUR) against the US dollar (USD) is 0.8426 EUR per USD (EUR/USD). Suppose that the spot exchange rate is 0.8730 EUR/USD tomorrow. Has the USD appreciated or depreciated against the EUR? Calculate the percentage change in the USD.

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