We swing by the Old Lady tomorrow for the MPS's latest monetary policy meeting

First off, there's next to no chance of the BOE acting in anyway tomorrow. What will be important is the message from Carney & Co now that there's been more water under the bridge since the Brexit vote and the August meeting, where they cut rates and announced more QE.

Unfortunately there's no presser so we'll just have to rely on the details in the statement and the minutes. The main part to watch is their reaction to the bounce back in the data and whether that has changed any minds about action going forward. They won't be turning tail on August's action in any way and will likely take some credit for that action having a calming affect on the economy.

"Uncertainty" will be the keyword and that will be their excuse to say they will keep their finger on the trigger and an easing bias in the short-term. They'll punt any possible future action expectations to the Nov meeting (and next inflation report) by citing they'll want to see the data.

It's looking like it could be a non-event but I've got my eye on a trade if certain parts fall into place.

The quid is in one of it's bad moods and that's predominantly due to some seeing the CPI numbers as overly negative for the UK, and so inferring that the BOE has scope to ease again, and the bigger reason of the dollar side of the trade and the Fed, purely on the potential widening of the interest rate gap between the two currencies. That trade won't come to a head until the FOMC next week so we may get an opportunity to jump into a cheeky short if the pound jumps on less dovish comments than expected from the MPC. I'm looking for a decent jump though, not 20/30 pips. The main idea is that the BOE could kick the quid temporarily out of this current trend, and I can ride the reverse right into the FOMC week (or get out sooner if there's decent profit I don't want to risk).

It's a trade I'll have to do on the fly as it's probably a pointless task trying to pick a sell level now, as we could be miles away come tomorrow.

It won't be this quiet come 11.00 GMT tomorrow.