I think the discussion can be looked at as short term dollar trend and long term trend. Short term dollar should move higher somewheres around 84USDX and long term - who knows how low it will fall. Chinese will throw a bone to the US money master to make everyone happy in the short term which won't mean much in a long term. Chinese will adjust their basket of currencies and the media will sound a success of the US delegation to China and that Chinese are taking steps to correct the currency exchange problem. If yuan rises only 3-5% that will just mean that the US importers will be loosing 3-5% on their imports so as always they will have to adjust their prices and as the ball rolls downhill, the consumer will end up paying more. That only spells out inflation where the FED will jump up and down how they have to fight this "evil" and will raise rates creating problems for the middle class.
Question could be asked what could stop the USD from falling in the long term and stop the rise of PMs? Would the collapse of Chinese government create a problems with Chinese manufacturing and create the exodus of business back to US soil? Anything short of that I don't see having a major impact on PMs or change in the deficit in USA. But even with that there is India, Mexico and many other countries who would gladly produce cheaper goods for the world.