Dr. John Taylor of Stanford University posted a review of the Plaza Accord, a massive scheme to devalue the greenback for Yen & Deutschmark parity. The Reagan revolution was devastating to foreign monetary economies, especially when currency regimes were only beginning to float out of fixed/pegged exchange rate regimes. Massive capital inflows had structurally altered the dollar that it negatively effected the capacity for foreign central banks in the management of their capital, current accounts. The solution: have Treasury Secretary James Baker find a way to fire U.S. Federal Reserve Chair Paul Volcker, his independence threatened White House political plans.
Both the Plaza Accord & Louvre Accord failed in their chief objective: rescue foreign currencies from appreciation.
John Taylor's Blog essay on both accords http://economicsone.com/2015/09/24/lessons-learned-on-the-30th-anniversary-of-the-plaza-accord/
Dr. Anna Schwartz last book before her death, on the ineffectiveness of Central Bank ability to manipulate parity through intervention in foreign exchange markets http://www.press.uchicago.edu/ucp/books/book/chicago/S/bo19198074.html
NY Times Obituary Dr. Anna Schwartz http://www.nytimes.com/2012/06/22/business/anna-schwartz-economist-who-worked-with-friedman-dies-at-96.html?_r=0