Today, the Bank of Japan has announced that it is ready to take prudent action to contain the yen's appreciation that reached to critical phase that threatens the Japanese exporters and economic recovery in Japan.

On the other hand, the Bank of Japan has intervened into the market for second time this year, as the Bank wants to curb the yen's appreciation.

Moreover, the Japanese government sees that the surging yen is corroding corporate earnings to add more pressures on businesses to cut spending, besides affecting the nation's exports negatively as it makes Japanese products lose a competitive advantage.