Morning all.. Wall St closed up but just 0.3% in a quiet US session. The Nikkei has had a quiet session too flipping in and out of negative to end up 1.1% on the day as USDJPY moved higher. A few stops triggered by weak shorts as USDJPY moved above 101.50. GBP was quiet in front of the BoE meeting today but started to drift lower into the end of the Asian session. An emergency cut in interest rates later today will not be enough to prevent an economic downturn, an influential think tank has warned. Prime Minister Theresa May should also increase government spending to help Britain weather the aftermath of the shock Brexit vote, according to the Institute for Public Policy Research. The expected BoE cut to a record low 0.25 percent later on Thursday would be the first since 2009 as Britain’s economy teeters on the brink of recession. Given the market has a 25 basis-point cut priced at 100 percent one would expect a huge spike in GBP/USD if they fail to ease. Many market players also believe the BoE may resume its multi-billion-pound quantitative easing program of government bond purchases. Oil, which jumped more than 3 percent on Wednesday, extended gains in Asian trade on Thursday, arresting its almost constant fall since early June, after a larger-than-expected gasoline draw eased concerns about global supply glut. This morning will be dominated by talk of what the BoE may come up with at noon today.. Good luck..