2012,Clive M. Corcoran,Systemic Liquidity Risk and Bipolar Markets, ISBN 1118410807:
To the extent that Chinese growth remains strong with firm demand for resources from such economies as Australia (and the CARBS nations generally) [2] then this will translate into more risk on behavior where it has been shown that AUD/JPY is the best proxy for risk on in the realm of foreign exchange.
2016,Edward E. Qian,Risk Parity Fundamentals, ISBN 149873880X, page 80:
For example, the markets transitioned from a risk on period during the equity rally of the late 1990s to a risk off regime when the tech bubble burst and a mild recession occurred from 2000 to 2002.