The pound is stronger than the US$.Then why is the US$ used on the world foreign exchange market?

Question

If currency comparison is based on strength, then the British Pound should be the bench on the world foreign market, but why is it that the US Dollar is being used?

Answer 1

England has the largest holding historically but the US has the most current active interest from around the world. In the same way that the English language is a 'horse trading' language the US dollar is presently engaged in many active conversations on trading- whereas England's holdings remain relatively static by comparison.

Answer 2

Because so many people use the dollar, and it is currently the world's reserve currency. Thus, it would be impossible to merely take it away from the foreign exchange market.