Question: Post an approximately 300-word response to t the suggested discussion question. There are a number of ways to approach this assignment: consider the reading in relation to its historical or theoretical context; write about an aspect of the week's reading that you don't understand, or something that jars you; formulate an insightful question or two about the reading and then attempt to answer your own questions; or respond to another student's post, building upon it, disagreeing with it, or re-thinking it. In any case, strive for thoughtfulness and nuance.

Suggested Discussion Question: Because predicting exchange rates is difficult, many firms and investors subscribe to professional forecasting services for a fee. Since an alternative to subscribing to professional forecasting services is to use a market-determined price such as the forward exchange rate, it is relevant to ask: Can professional forecasters outperform the market? Identify studies that attempt to answer this question, summarize their findings, and explain what your conclusions.