Multiple Choice
Which of the following statements is true of Black Wednesday?
A) Following Black Wednesday, the British pound became more valuable relative to the German mark.
B) Following Black Wednesday, the German mark became less valuable relative to the British pound.
C) Currency traders who had borrowed pounds to buy German marks incurred huge losses due to Black Wednesday.
D) Following Black Wednesday, the British government incurred great losses from selling foreign currency reserves.
Correct Answer:
Verified
Correct Answer:
Verified
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