Fed's Pianalto says U.S. benefits from dollar role

...Cleveland Federal Reserve President Sandra Pianalto said on Tuesday.

Pianalto said in remarks prepared for delivery to a banking forum in Prague that the market share of any currency was subject to challenge and that monetary authorities had a role to play in maintaining the market share of their currency in a competitive environment by keeping inflation low and stable.

Pianalto, who does not have a vote this year on the policy-making Federal Open Market Committee (FOMC), did not discuss the outlook for Fed policy or the economy in the text of the speech.