"China Yuan Up Late On Central Parity, Demand From Exporters" from Wall Street Journal

"China's yuan rose against the U.S. dollar late Monday after the central bank set a lower dollar-yuan central parity rate, and as demand for the local currency for export settlement picked up."

"Gold, Silver Tumble as Dollar Gains, Curbing Demand for Alternative Assets" from Bloomberg

"Gold and silver futures tumbled the most in three weeks as the dollar climbed, eroding the appeal of precious metals as an alternative asset.

The greenback rose for the third straight day against a basket of six major currencies on speculation that an extension of tax cuts will spur the U.S. economy. Gold has gained 26 percent this year, reaching a record $1,432.50 an ounce yesterday."

"Russia buying Canadian dollars, eyes other currencies" from South China Morning Post

"Moscow: Russia has started adding the Canadian dollar to its international reserves and may increase those holdings in coming months, said Alexei Ulyukayev, first deputy chairman of Russia's central bank."So far, the amounts are very small, but there's perhaps potential for increasing our holdings," Ulyukayev said. Russia aims to diversify its reserves, the world's third-biggest, and promote the use of regional currencies in international trade and finance to reduce risks posed by US dollar. It has said it also plans to increase gold holdings and may consider including other currencies, including the Australian dollar."

"While the rhetoric on "currency wars" heats up, the bone of contention revolves around the United States' demand for a stronger renminbi and the need for China to adopt a more flexible exchange rate regime." from South China Morning Post

"Currency strategists believe the US dollar will remain weak in the coming months as a result of the Fed move." from South China Morning Post

"Already limp, QE2 inflicts more damage to the greenback, says Mitul Kotecha, head of global FX strategy at Credit Agricole. Because of its weakness, the US dollar has effectively replaced the yen as the funding currency for carry trades, according to Kotecha, adding that Scandinavian and emerging-market currencies are likely to perform well against the US dollar. The British pound, Swiss franc and Yen are the likely laggards among G10 currencies, Kotecha believes."

"This is going to play out bullishly for the precious metals," said Credit Suisse analyst Tom Kendall, pointing to renewed weakness in the dollar after the statement." from South China Morning Post

"Gold's initial reaction to the news was largely driven by the dollar. The two typically have a close inverse relationship, as gold can be bought as an alternative to the US unit, and becomes cheaper for other currency holders as the dollar slips. While this correlation erodes at times of extreme uncertainty in the financial markets - as seen earlier this year as the euro zone sovereign debt crisis bit - the link has recently strengthened. The US currency fell sharply after the Fed statement, hitting a 28-year low against the flourishing Australian dollar and sliding against the euro, British pound and yen.

The possibility of further adjustments to the level of QE could inject even more volatility into the dollar, with Commerzbank saying the policy could prove a "bottomless pit". "Things are likely to become increasingly uncomfortable for the US dollar, and it only seems a matter of time until euro-US dollar breaches its recent high at 1.4160," it said."