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One month ago, the spot rate for the British pound (GBP) was 1GBP=121 USD. Today you observe that the spot rate is 1GBP=1.26 USD. How

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One month ago, the spot rate for the British pound (GBP) was 1GBP=121 USD. Today you observe that the spot rate is 1GBP=1.26 USD. How much has the value of the dollar apprecialed (t) or depreciated ( () relative to the Betissh pound? Submit your final ancwer as a percentige rounded to two decimal places (Ex. 0.00\%). (Submit a currency appreciation as a posilive and a currency depreciation as it. negative) Selected Answer: [None Given] Correct Answer: 3.97+0.02(k)

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