Corporate foreign exchange news

The dollar kept hold of gains made at the start of the week during trading yesterday (October 27th), with continued demand for safe-haven currencies providing support for the greenback.Vassili Serebriakov, an analyst at Wells Fargo, told the Financial Times higher US treasury yields had also influenced dollar trading, with ten-year yields up 1.25 per cent to 3.46 per cent.Meanwhile, foreign exchange brokers were also correcting their strategy after deeming short positions to have been over-extended, Mr Serebriakov added.However, he clarified: "That said, for the time being the move appears to be a short-term correction to an overall weak dollar trend and we are probably some way away from a medium-term turnround in the greenback."Derek Halpenny, of Bank of Tokyo-Mitsubishi UFJ, added that haven buying has also increased as central banks around the world signal their intention to wind down fiscal stimulus programmes.