MARKET OUTLOOK - UK Government Bond Yields Drop Ahead of BoE Members' Speeches

In the forex market, investors are awaiting speeches by Bank of England monetary policy committee members Clare Lombardelli and Swati Dhingra at the Bank of England Observers Conference, scheduled for 1200 and 1330 GMT, respectively, while long-term government bond (gilt) yields have declined. Last week's weaker-than-expected UK retail sales and PMI data increased market expectations for a rate cut by the BOE, leading to a drop in gilt yields. The yield on the 10-year British government bond fell by about 4 basis points to 4.356%.