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One month ago, the indirect spot exchange rate is 0.55 Pound sterling per US$. Now, the spot exchange rate is $1.6 per Pound. Based on

One month ago, the indirect spot exchange rate is 0.55 Pound sterling per US$. Now, the spot exchange rate is $1.6 per Pound. Based on this information, which of the following statement is correct?

A. Pound sterling is depreciating against US $

B. US$ is always depreciating against Pound sterling

C. US $ is depreciating against Pound sterling

D. US$ and Pound sterling are both appreciating

E. US$ is expected to both appreciate and depreciate against Pound sterling

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