Indices and FX: what's the pairing you watch?

Index-currency pairings — the Dax and EUR, the Nikkei and JPY, the S&P and the dollar — carry information between markets. Watching them together reveals the risk mood.

Which pairing do you follow?

• the index and the currency it informs
• what the current relationship is telling you
• the divergence you've noticed

Background: risk-on risk-off explained.