Yellen as part of her testimony before the US Congress, says,
- “I strongly believe the US dollar needs to remain the world’s primary reserve currency”
- she sees “few real challenges to the US dollar”
Adds that the role of the dollar is helpful for giving teeth to US sanctions.
I know comments like this trigger some folks, but Yellen is correct.
As for the decline in the dollar, this chart is the yearly DXY and its holding up pretty well, yeah?
Not as high as in the 80s, But none of us are 😉