Mitsubishi UFJ: UK government bond yields decline, potentially boosting the pound

On January 15th, Jinshi data, Mitsubishi UFJ Financial Group analyst Derek Halpenny said in a report that after the UK inflation data was lower than expected, the UK government bond yields fell due to the data strengthening the case for further interest rate cuts by the Central Bank of England in February. The possibility of a rate cut is usually unfavorable to the pound. However, given the recent dumping of UK government bonds, the pound is under pressure, and there is room for a pump in the short term. He said that these data should allow for some reassessment of the view of a possible UK government bond crisis.

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