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U.S. need not fear challengers to dollar, Fed official says
Reuters: The United States would not necessarily lose out if other currencies emerged as alternatives to the dollar's status as the world's so-called reserve currency, a top U.S. central banker said on Tuesday.
William Dudley, president of the Federal Reserve Bank of New York, did not comment on U.S. interest rates in a speech. Rather he said Americans should not be concerned if, for the right reasons, other currencies started to eat into the dollar's 60-percent share of foreign exchange reserve holdings.
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