Use again the FRED economic database https://fred.stlouisfed.org/ to look at the U.S. to U.K. foreign exchange rate (search for US/UK Foreign Exchange Rate then change the beginning date to Jan 1, 2016). Copy and paste the graph here.

a. On June 23, 2016, how many dollars did it take to buy one British pound?

1BP = 1.45580USD

b. On June 27, 2016, how many dollars did it take to buy one British pound? 1BP = 1.32350USD

c. Over the time period, did the British pound appreciate or depreciate? Does this suggest an increased demand to hold pounds or a decreased demand to hold them?

d. What political event happened to cause such a change in the exchange rate? Why did this event cause an appreciation/depreciation (as per your answer to c)?

e. How has this exchange rate changed between the summer of 2016 and now? How can this appreciation/depreciation be explained?