The US dollar has been appreciating for some time now. This winter, there will be additional rate hikes by the Federal Reserve and very likely a recession in Europe. Based on these two trends only, how should the US Dollar exchange rate index change from its current level (provide your basis for this)? What should the effect of these two factors be on US interest rates, the S&P 500 index, and commodity prices (briefly provide your basis for each of these changes)? Do not assume any actions by the FR.