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You are given the following exchange rates: Exhibit 1 Interbank Currency Quotes Currency Pair Spot Rate Expected Spot Rate in One Year USD/EUR 1.3960 1.3863

You are given the following exchange rates: Exhibit 1 Interbank Currency Quotes Currency Pair Spot Rate Expected Spot Rate in One Year USD/EUR 1.3960 1.3863 CHF/USD 0.9585 0.9551 USD/GBP 1.5850 1.5794 Based on the exhibit, which of the following lists the three currencies in order of appreciating the most to appreciating the least (in percentage terms) against the USD over the next year? O A. EUR, CHF, GBP OB. CHF. GBP, EUR O C. GBP, CHF, EUR

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