According to a Morgan Stanley strategist, the dollar will be the world's global reserve currency for a long time.
The global dominance of the dollar has been questioned after the US and its allies froze much of Russia's foreign-exchange reserves.
Some analysts believe that countries may want to reduce their dependence on the US in order to reduce their power over the global economy.
The US dollar is going to be the world's dominant reserve currency for a long time to come, according to James Lord, a top FX strategist at the bank.
As the world economy deals with slowing growth and high inflation, the strategist said the dollar is the cleanest dirty shirt.
The case for the buck is helped by the fact that the EU and other countries froze Russia's assets.
The US dollar is likely to be the safest asset for most reserve managers.
There was a lot of talk about whether or not the sanctions on the Central Bank of Russia would cause an acceleration away from the dollar. I don't think that is the case.
The renminbi has been seen as an alternative to the Chinese yuan. Concerns about the dollar's position were raised after Saudi Arabia accelerated talks with China over pricing oil sales.
Lord said that the yuan does not look appealing to investors at the moment, with China's strict approach to containing COVID weighing on the currency. It has fallen against the dollar.
He said that the zero-COVID strategy is causing market concern.
China's strict control over the economy has been said to make the yuan unattractive as a reserve asset.
The buck has risen 9% this year, Lord said, because it is the world's defacto currency.
Around 40% of world trade is invoiced in dollars, and the US currency makes up around 60% of global foreign-exchange reserves.
By default, people are constructive on the dollar. Lord said that if people could sell every currency in the world, they would.
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