Corporate foreign exchange news

The dollar made gains against its major counterparts during foreign exchange trading yesterday (September 28th) amid concerns about the withdrawal of stimulus measures.By Midday in New York, the dollar was up against the pound, euro and Swiss franc, while the dollar index - which tracks the greenback's performance against the six most actively traded currencies - rose to a two-week high of 77.255.Speaking to the Financial Times, Michael Hart, a foreign exchange analyst at Citigroup, said that traders are reacting to the anticipated withdrawal of fiscal stimulus instruments such as the asset purchase programmes which have bolstered liquidity in the worst-hit nations."This should support the dollar both in the near term as markets grapple with the new liquidity reality and in the medium term when traditional [cyclical drivers] are likely to support dollar outperformance," he predicted.Daily FX has declared the short-term prospects for the dollar as bullish, with consumer confidence data due out this week expected to provide support for the global reserve currency.