The diagram below shows three supply curves (labelled $S_1$, $S_2$, $S_3$) and three demand curves (labelled $D_1$, $D_2$, $D_3$) for the British pound (£) in the foreign exchange market. The price of the pound is quoted in Euros (€). The original equilibrium is at point E.

There is a significant rise in the rate of inflation in the UK relative to the Eurozone, with all other factors remaining constant. Which point W, X, Y or Z represents the new equilibrium in the market for the British pound?