The Bank of Japan plans an intervene in currency markets to reverse the Yen, where it began discussing new monetary easing after the Japanese Yen almost snapped a new record high against the U.S Dollar earlier on Monday.

Japan's Nikkei newspaper said the Government of Japan intends to keep the Yen within a relatively narrow range in order to support Japanese exports as Japan still suffers from the aftermath of the catastrophe that hit the county few months ago.