The "Around the Lake" model illustrating forward market arbitrage is a useful way to show the interconnectedness of all financial markets.Given that the U.S. Federal Reserve has taken unprecedented action to raise U.S. interest rates:

a. This will cause movement "Around the Lake", clockwise or counter clockwise?

b. This will cause the spot exchange rate for the dollar to get stronger or weaker?

c. This will cause pressure on foreign interest rates to go higher or lower?