Also from dailyfx:
The correlation between Gold and the US Dollar has recently recovered. Gold has historically been used as a hedge against US Dollar weakness, but recent market dynamics actually showed precious metals prices move virtually lock-step with the US currency. Overall risk trends meant that investors would seek the safety of both gold and the USD versus major counterparts. Yet the Fed’s recent actions put the US Dollar’s safe-haven status into clear doubt, and gold prices are once again moving inversely to the Greenback. The turn in correlation is arguably an ominous signal for the US Dollar.
