Reference: Ref 20-3 (Table: Exchange Rates) Using the Hypothetical Exchange

Reference: Ref 20-3 (Table: Exchange Rates) Using the hypothetical exchange rate information in the table, which of the following statements is correct?

A) In 2004, the U.S. dollar had not changed relative to all of the other currencies.
B) In 2004, the Japanese yen had depreciated relative to the U.S. dollar.
C) In 2004, the Japanese yen had appreciated relative to the European euro.
D) In 2004, the European euro had appreciated relative to the British pound.