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The Federal Reserve (the central bank of the U.S.) has raised interest rates significantly in the last two years, but now is expected to lower

  1. The Federal Reserve (the central bank of the U.S.) has raised interest rates significantly in the last two years, but now is expected to lower them later this year. How will this likely affect the value of the U.S. dollar vis--vis other currencies? Use the exchange rate determination models discussed in class to answer this question.

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