US Treasury Sec Yellen: Will be “a long time, if ever” before US dollar replaced as key global currency

Joel Frank Independent Analyst

US Treasury Secretary Janet Yellen said on Wednesday that it will be "a long time, if ever" before the US dollar is replaced as the key currency for the global economy. The impact of sanctions on Russia show the importance of the US dollar and euro, as well the US' partnership with its allies. The US dollar's dominance as a means of exchange is due to the strength of the US economy, financial system and confidence in US financial markets, Yellen added.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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