Figure: Yuan Foreign Exchange Market for Dollars Reference: Ref

Figure: Yuan Foreign Exchange Market for Dollars Reference: Ref 20-4 (Figure: Yuan Foreign Exchange Market for Dollars) Based on this figure, which of the following statements is correct?

A) Moving up the y-axis, the Chinese yuan depreciates relative to all world currencies.
B) Moving up the y-axis, the American dollar depreciates relative to the Chinese yuan.
C) Moving down the y-axis, the Chinese yuan depreciates relative to the U.S. dollar.
D) Moving up the y-axis, the Chinese yuan depreciates relative to the U.S. dollar.