Published by Zeb BhamThe Australian dollar will underperform in 2010 as the Reserve Bank of Australia (RBA) withdraws fiscal support, according to the Bank of Tokyo-Mitsubishi.Bloomberg reports that a forward-looking statement from the group issued this morning (December 24th) declared that the Aussie, as the currency is known in foreign exchange trading markets, will not see the gains realised in 2009 next year.Lee Hardman, a foreign exchange strategist at Bank of Tokyo-Mitsubishi in London, predicted: "The negative impact from global liquidity withdrawal trumps the positive impact from improving global economic fundamentals."He added that this view is supported by valuation measures such as purchasing power parity, which shows the Aussie overvalued against its US counterpart by 25 per cent.Elsewhere, Barclays has also this morning predicted that the US dollar's recent gains may end in mid-2010 as central banks avoid adding large volumes of the dollar to their reserves.Steve Englander, chief US currency strategist at Barclays in New York, told Bloomberg that the dollar will slide as soon as market fears about liquidity ease.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site