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  3. the following are the exchange rates of the forex

The following are the exchange rates of the forex pairs in a trading platform: ...

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Accounting

The following are the exchange rates of the forex pairs in a trading platform:

Forex pair

Bid

Offer

GBPUSD

1.4033

1.4114

EURGBP

0.8577

0.8638

AUDJPY

84.36

84.97

EURJPY

133.16

133.77

USDCHF

0.8957

0.9018

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Explain the effects of raising interest rates and falling interest rates on the exchange rate of a currency. (6 marks)

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