International investors rushed to safe havens such as dollar-based securities in recent years on news of finan- cial crises in the Far East and elsewhere.
The tide has reversed against the dollar. Now that a U.S. economic slowdown has emerged as a new concern, the market has turned its attention to investors' moves to switch away from dollar-based assets.
Thanks to the International Monetary Fund's swift move, Turkey would soon extricate itself from its deepening financial crisis as well. The market is also putting behind it worries about the recent runup in crude oil prices and the battered euro.