Abstract: Restricted by the deficit of the balance of payments and the outflow of gold reserve, the Nixon administration put forward several measures to change the International monetary system such as closing the gold window and broadening the exchange rate margins. These actions showed that among the Nixon cabinet, the tendency of suspending the gold-dollar convertibility and floating U.S. dollar became increasingly stronger which eventually influenced the President's decision making. However, due to the lack of consultation, the monetary measures came cross many objections. Therefore, the arrangement of international monetary affairs could not only reveal different interest appeals, but also affect international political relationship. Founded on U.S. diplomatic and financial archives, this article will analyze the internal discussion of the Nixon cabinet in regard to the international monetary policies, and attempt to explore the relationship between US and its allies in the years of detente.

Key words: Nixon Government, Bretton Woods Monetary System, New Economic Policies, Floating Exchange Rate Regime