When some countries in Eastern Europe initially allowed their currencies to fluctuate against the dollar, would the fundamental technique based on historical relationships have been useful for forecasting future exchange rates of these currencies? Explain. 1. Yes, because most factors fundamental forecasting typically relies on have an immediate impact on short-term future exchange rates while only some factors need to have historical data to make such predictions. II. Yes, because fundamental forecasting typically has lagged impact on exchange rates which allows interpreting past changes in variables (such as income level, interest rates, etc.) on future exchange rates of currencies under discussion. III. No, because fundamental forecasting typically relies on historical relationships between economic factors and exchange rate movements. However, exchange rates for currencies under discussion were not allowed to move in the past