Assertion:There was a collapse of the system of fixed exchange rates and the introduction of a system of floating exchange rates. Reason:From the 1960s the rising costs of its overseas involvements weakened the US’s finances and competitive strength. The US dollar now no longer commanded confidence as the world’s principal currency. 1 point

A. Both A and R are true and R is the correct explanation of A.

B. Both A and R are true but R is not the correct explanation of A.

C. A is correct but R is wrong.

D. A is wrong but R is correct