What occurs in the foreign exchange market when the exchange rate is set above its equilibrium level?

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There is a surplus of that currency available in the foreign exchange marketThere is a shortage of that currency in the foreign exchange marketThe supply curve of foreign exchange shifts to the rightThe supply curve of foreign exchange shifts to the left

Explanation

When the exchange rate exceeds the equilibrium price, the quantity of the foreign currency supplied surpasses the quantity demanded, resulting in an excess supply in the foreign exchange market.