Suppose that we had data on the CLP:GBP exchange rate and applied the Augmented Dickey Fuller test. When testing for a unit root against the alternative of a constant mean we find that we cannot reject the null at the 10% level of significance. When testing for a unit root against the alternative of a deterministic time trend we find that we can reject the null at the 5% level of significance but not at the 1% level of significance.

What would be your conclusion as to the stationarity of the exchange rate series? What implications would this have for the further analysis of the series?