0012 GMT — The yen strengthens slightly against other G-10 and Asian currencies in early trade amid prospects of coordinated intervention by Japan and the U.S., analysts say. Traders would be wise to keep a wary eye on the potential for fresh intervention in the yen, Stone X’s Matt Simpson says in commentary.

Traders are on high alert for pockets of weak U.S. data and U.S. CPI is no exception, the senior market analyst says, noting CPI data are due Wednesday. With the MOF joining forces with the U.S. Treasury and vowing to intervene, even a slightly softer CPI report could bode well for USD/JPY bears, Simpson adds.

U.S. dollar is 0.1% lower at 159.17 yen, euro is 0.1% lower at Y183.76, and Australian dollar is down 0.1% at Y112.29, Fact Set data show.

The article is credited to Ronnie Harui at the Wall Street Journal.