Showing posts with the label bretton-woods-system-definition


HISTORICAL EVENTS IN THE FX MARKET Before diving into the inner workings of currency trading, it is impor tant for every trader to understand a few of the key milestones in the  foreign exchange market, since even to this day they still represent  events that are referenced repeatedly by professional forex traders. BRETTON WOODS: ANOINTING  THE DOLLAR AS THE WORLD  CURRENCY (1944) _____________________________________________________________ In July 1944, representatives of 44 nations met in Bretton Woods, New  Hampshire, to create a new institutional arrangement for governing the in ternational economy in the years after World War II. After the war, most  agreed that international economic instability was one of the principal  causes of the war, and that such instability needed to be prevented in  the future. The agreement, which was developed by renowned economists  John Maynard Keynes and Harry Dexter White, was initially proposed to  Great Britain as a part