As a consultant to an investment company trading in various currencies, you have been assigned the task of studying long-term trends in the exchange rates of the Canadian dollar, the Japanese yen, and the English pound. Data from 1980 to 2018 are stored in Currency, where the Canadian dollar, the Japanese yen, and the English pound are expressed in units per U.S. dollar.

Develop a forecasting model for the exchange rate of each of these three currencies and provide forecasts for 2019 and 2020 for each currency. Write an executive summary for a presentation to be given to the investment company. Append to this executive summary a discussion regarding possible limitations that may exist in these models.