The US Federal Reserve, defending the dollar, will stand firm in the face of currencies that threaten its dominance

Federal Reserve Governor Christopher Waller said the US dollar is likely to retain its prominent position globally despite recent threats from cryptocurrencies, a rising euro and China's promotion of its yuan.

“I do not expect to see the U.S. dollar lose its status as the global reserve currency any time soon,” Waller said in a speech Thursday at the University of the Bahamas.