Suppose Canada Imposed a Tax of 10% on All Foreign-Exchange

Suppose Canada imposed a tax of 10% on all foreign-exchange transactions.We can predict that

A) the Canadian dollar would depreciate by 10% in response and no change in trade would occur.
B) the tax would reduce the profit of exporters and importers but would not affect the volume of trade.
C) the gains from trade would be reduced and less trade would occur.
D) the tax would have no effect on the volume of trade because it affects only Canadians,and not foreigners.
E) the Canadian dollar would appreciate due to increased demand.