Question: According to some research in forecasting future exchange rates, forward rates were more accurate (on average) than professional forecasting services in terms of being ___.

According to some research in forecasting future exchange rates, forward rates were more accurate (on average) than professional forecasting services in terms of being ___. Professional forecasting services were more accurate in predicting the ___ of change.

magnitude, direction
correct on the direction of change, magnitude
closer to the actual spot rate, direction
None of these
direction, closer to the actual spot rate

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