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

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.