"Alert - 10:55 (CET) - Dollar advanced 29% against Turkish Lira this month
If the investors are worried about the effects of the global credit quake, withdrawing capital from EM countries to seek safe haven refuges, it would be expected that the Dollar would punish the Turkish Lira. As a consequence, the greenback has climbed 29% this month against this currency, being a perfect mirror image of the equities uncertainties."
More:Forex Alert - 10:55 (CET) - Dollar advanced 29% against Turkish Lira this month - 10/22/2008