iv) Assume that income levels in the United Kingdom start to rise, while U.S. income levels remain unchanged. This will place pressure on the value of the British pound. Also, assume that U.S. interest rates rise, while British interest rates remain unchanged and that no inflation is expected in either country. This will place pressure on the value of the British pound. a. Downward; downward b. Upward; downward Upward; upward a. Downward; upward