The Fed’s next move will be to raise interest rates; the dollar will be more attractive vs the Euro. In addition, the U.S. experienced the slow down first and will be the first to rebound.

The Fed is not going to raise interest rates. They may have been thinking about doing that with oil at $140, because rising oil and food prices were translating into inflation. Today, oil is below 115 and the threat of inflation seems to be over.
On the other hand, weak dollar is the reason why we had positive GDP growth these last two quarters. We were saved by exports. This latest move is very bad for exports.
1.75% in September is likely.