Corporate foreign exchange news

The dollar and the yen retreated on early gains seen on Thursday (October 29th) as foreign exchange brokers and analysts looked ahead to the latest gross domestic product figures for the US.Analysts polled by Bloomberg revealed a swelling expectation that the world's largest economy may have returned to growth in the third quarter of the year.In the first and second quarters, the US economy contracted 3.3 per cent and 3.8 per cent respectively, but analysts are confident that the economic stimulus is now working its way into the broader economy, while the cash-for-clunkers programme is also expected to have provided a boost to the auto industry in the third quarter.Jeremy Stretch, a London-based senior currency strategist at Rabobank International, said that currencies are languishing today as foreign exchange brokers and analysts re-examine higher-yielding assets such as the Australian and Canadian dollars."Markets are tentatively trying to put a bit of risk back on the table," he commented.