The U.S. dollar has been the focal point of currency trading since the 1940s. As a result, most of the world's currencies are quoted against the dollar.

Name: The U.S. dollar has been the focal point of currency trading since the 1940s. As a result, most of the world's currencies are quoted against the dollar.
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Quizplus · Accepted Answer

This is true, as the dominance of the U.S. economy and its role in international trade has made the dollar the most widely used currency in the world.

The US Dollar Has Been the Focal Point of Currency Trading