In September 1992, the British Government Was Forced to Abandon

In September 1992, the British government was forced to abandon efforts to stabilize the value of the pound against other European currencies because

A) British dependence on imports of foreign oil was escalating rapidly.
B) British nominal interest rates were much higher than nominal interest rates in other European countries.
C) the value of the pound against the yen was increasing rapidly, reducing the ability of British goods to compete in the Japanese market.
D) foreign exchange traders had become convinced that the foreign exchange value of the pound would soon fall.