Mansoor Mohi-Uddin, chief currency strategist at UBS, said that there was a sentiment in the market that "central banks from Asia and the Middle East are buying euros".

BBC: Recent rebounds in the dollar have proved to be short lived

It is meeting today's competing commitments by buying up gas from central Asia (thus also neutralising some potential competition for the European market).

ECONOMIST: Russian gas and Europe

In an effort to stave off more market panic, central banks in Asia, Europe, and the U.S. have been pumping billions of dollars into financial markets to boost confidence.

NPR: British Bank Buys Rival To Help Calm Jitters

There is not a central idea that works across pan-Asia, and that is not true for the American market.

WSJ: It's Still All About Knowing the Customer

Among them: a common desire to evolve from a command to a market economy, a mutual interest in containing Islam-fired nationalism in the new republics of Central Asia, and growing economic ties.

CNN: ALLIANCES