A system of managed floating exchange rates is A. a system in which governments use flexible exchange rates. B. a system in which governments are forbidden from attempt to moderate exchange rate movements without keeping exchange rates rigidly fixed. C. a system in which governments use extensive fiscal policy to discourage exchange rate movements. D. a system in which governments need to reach a prior agreement among them before they may attempt to moderate exchange rate movements without keeping exchange rates rigidly fixed. E. a system in which governments may attempt to moderate exchange rate movements without keeping exchange rates rigidly fixed.