Bretton Woods famous forex trader

The Bretton Woods was the system of monetary management which led to a basement for a new kind of monetary order. Its name comes from location of the meeting of the agreements where it have been established in Bretton Woods, New Hampshire. This meeting has taken place in July 1944. The Bretton Woods wereresponsible for implementation of International Monetary Fund. Actually,the Bretton Woods system was an attempt to avoid economic disasters worldwide, such as those experienced in the 1930s.
What was the purpose of the Bretton Woods?
The main purpose of the meeting of Bretton Woods was the introduction of the new system of rules, policies regulations and procedures which is mainly intented for major world economies. The main objective of agreement was the stability of the global economy The system had been designed to address the systemic imbalances that too without disrupting the entire system.
The effect of Bretton Woods in the U.S. dollar
Bretton Woods system did established the US dollar as a reserve currency globally. Also it requires the world’s currencies pegged to dollar rather than the yellow gold. The death of Bretton Woods institutions began in 1971, once Richard Nixon took U.S. off the gold standard so as to stop outflow of gold.
In 1976, principles of Bretton Woods was abandoned all together, and currencies of the world were once again very free to float. Bretton Woods is nothing but, an unforgettable event in the forex because it was really the creation of forex trading.