Fed's Williams says dollar remains dominant on global stage

ReutersJun 24, 2025 5:28 PM

ALBANY, June 24 (Reuters) - Federal Reserve Bank of New York President John Williams said on Tuesday he sees no current threat to dethrone the dollar as the dominant global reserve currency.

Foreigners' holdings of dollars “hasn’t fundamentally changed at all” and the dollar is still the main reserve currency, Williams said before an event held by NY CREATES Albany NanoTech Complex, in Albany.

He noted however that trade policy uncertainty has driven more hedging of dollar holdings.

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