With the FOMC's decision several hours away, the dollar is trading lower against nearly all the major currencies. The Antipodeans and Norwegian krone are leading. The euro, yen, and sterling are posting minor gains (less than 0.1%). Most of the freely liquid and accessible emerging market currencies are also firmer. The Turkish lira is a notable exception. The decline in the core inflation and a smaller than expected rise in the headline pace embolden officials for another rate cut when the central bank meets on November 18. The JP Morgan Emerging Market Currency Index is rising for the second consecutive session ... (full story)