Does the forward rate necessarily give you the best, Finance Basics

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Does the forward rate necessarily give you the best

1. Does the forward rate necessarily give you the best forecast of the future expected exchange rate in x months? Can it tell you how it will differ from the current spot rate?

2. If the ¥/=C forward rate is at a forward premium relative to the spot rate (i.e., the forward rate is higher than the spot rate), is the nominal interest rate in Japanese ¥ or in European =C higher?

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