Can the markets expectation at t+2 of the exchange rate at t+N be less accurate than its

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Can the market’s expectation at t+2 of the exchange rate at t+N be less accurate than its expectation at t+1 of the exchange rate at t+N?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...
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