Gold and USD/JPY are your most straight-forward QE trades, while varying degrees of noise infect other pairs.

The moves that seem outsized are in AUD and NZD, which are now flirting with session highs. They offer the chance to fade this move with limited risk. Strong offers are reported in AUD at 1.0520 with stops above.

The big surprise is the lack of enthusiasm in the stock market. Given everything else, gains in stocks would seem like a slam dunk so some type of convergence trade (long stocks, short AUD) could limit risk.