Few if any currency managers attempt to forecast precise exchange rates. The trick is to predict directional moves. Different managers work to different time horizons but, broadly speaking, currency management can be separated into two categories: a technicals-based approach and one that looks to fundamentals.
Most forex experts today trade using statistical models based on historical data, which attempt to identify forthcoming upward trends (buy opportunities) or downward trends (sell opportunities). Economic data play no part in these views.
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