But the fixed exchange-rate system also undermined the United States’ capacity to manage its balance of payments. That is why, in 1971, President Richard Nixon unilaterally abandoned the dollar’s convertibility to gold, leaving major currencies’ exchange rates to float against one another.
但固定汇率制度也不利于美国管理收支平衡。正因如此，1971年美国总统尼克松单方面放弃了美元与黄金的兑换性，主要货币汇率开始浮动。