On June 23, 2016, the U.S. dollar was trading at 0.68 U.K. pounds per U.S. dollar on the foreign exchange market. On June 25, the U.S. dollar was trading at 0.76 U.K. pounds per U.S. dollar.

a.What events could have brought this change in the value of the U.S. dollar?

b.Did the events you've described change the demand for U.S. dollars, the supply of U.S. dollars, or both demand and supply in the foreign exchange market?