What's the best pair to express a risk-off view?

When you expect fear, the choice of instrument matters: yen pairs, franc pairs, gold, or the high-beta crosses as the short side. Each expresses the view differently.

What's your pick?

• the instrument and the reasoning
• how it behaved in recent risk-offs
• the risk-off expression that failed you

Background: risk-on risk-off explained and safe havens.