[MARKET ANALYSIS] DXY marginally softened amid lower oil prices, while yen strengthened following confirmation of US-Japan intervention on Friday to curb yen weakness and amid speculation for a third day of intervention

DXY: -0.1%Marginally softened following the drop in oil prices and lower yields, but with price action contained amid ongoing Fed policy uncertainty, with a report on Friday noting that Chair Warsh is mulling reducing the frequency of policy meetings. Fed's Barkin also said on Friday that it was a 'close call' whether rates are high enough to bring inflation down, and he didn't know whether he would have joined three fellow regional Fed presidents who voted for higher rates, but think there is a strong case there for adding restraint and taking back some of last year's rate cuts, while Musalem said the sell-off in US Treasuries the past week signalled the need for the Fed to earn its inflation-fighting credibility with interest rate hikes.EUR/USD: +0.1%Ekes mild gains but with upside limited in the absence of any major fresh catalysts from the bloc and after last Friday's whipsawing through the 1.1500 level.GBP/USD: -0.1%Pared some of last week's advances and gave back the 1.3500 status, with weekend newsflow quiet for the UK, although there were reports on Friday that Chancellor Healey told cabinet ministers to prepare for budget cuts.USD/JPY: -0.7%Continued to decline and briefly dipped beneath the 156.00 handle after the US and Japan confirmed they jointly intervened on Friday to curb the yen's weakness, while trader reports noted that some hedge funds were selling USD/JPY, which potentially could be due to speculation of further intervention on Monday given the IMF currency guidelines that classify three days of intervention as a single market operation.Antipodeans: AUD/USD +0.2% / NZD/USD +0.3%Remained afloat amid the softer buck but with upside limited after the miss on Chinese RatingDog Manufacturing PMI data.