Risk Currency
Risk currency can be used with Fx Exposure to gauge net currency exposure. For most securities, the risk currency is the currency in which the security is priced. For fx forwards, cross-currency swaps, and other cross-currency instruments, if one leg is the same as the fund currency, then the Risk Currency will be the other currency (e.g. if the fund is denominated in USD, then the Risk Currency would be EUR for a EURUSD forward would be EUR, and JPY for a USDJPY forward). If both legs of the currency are different from the fund currency, then the Risk Currency will be “Cross”.