As a consultant to an investment company trading in various currencies, you have been assigned the task of studying long-term trends in the exchange rates of the Canadian dollar, the Japanese yen, and the English pound. Data from 1980 to 2016 are stored in Currency , where the Canadian dollar, the Japanese yen, and the English pound are expressed in units per U.S. dollar.

Develop a forecasting model for the exchange rate of each of these three currencies and provide forecasts for 2017 and 2018 for each currency. Write an executive summary for a presentation to be given to the investment company. Append to this executive summary a discussion regarding possible limitations that may exist in these models.