Recent higher inflation indicators in the United States are leading to concerns that inflation in the United States will be high when compared to most of its major trading partners. What effect would this expectation of high U.S. inflation have on the exchange rates for the U.S. dollar relative to currencies of its major trading partners?

1. encourage consumers in other countries to purchase products from the United States.

2. Raise tariffs on goods from other countries sold in the United States.

3. Discourage American consumers from purchasing products from other countries

4. Encourage American consumers to purchase products from other countries