The end of Bretton Woods came with the ____ no longer commanding confidence as

the world’s principal currency.

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Detailed Solution

End of Bretton Woods came with the US Dollar no longer commanding confidence as the world’s principal currency. The US's finances and ability to compete were negatively impacted starting in the 1960s by the escalating costs of its foreign involvement. As the predominant currency around the globe, the US dollar no longer had universal confidence. It was unable to keep up with gold in terms of value. This ultimately caused the fixed exchange rate system to fail and the implementation of a floating exchange rate system, in which the rates fluctuate without government involvement based on the supply and demand of currencies in the foreign exchange markets.

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