Eaton Corp. recorded 1,000,000 euros in Accounts Receivable for sales to customers in France and recorded Accounts Payable of 2,000,000 Pesos for inventory purchased from Mexico. If Eaton recorded a foreign currency exchange gain on its receivables and a foreign currency loss on its payables, what must have happened to each currency?

Peso appreciated, Euro depreciated

Peso depreciated, Euro appreciated

Peso depreciated, Euro depreciated

Peso appreciated, Euro appreciated