Some Japanese analysts say there's not much to be gained from government intervention, in the nation's currency. A stronger yen could threaten to harm Japan's exporters and derail a feeble recovery from the global crisis.
But analysts say Japanese companies are better equipped now to deal with yen strength, than they were 15 years ago. Japan's authorities haven't intervened since March 2004, when a 15-month yen selling spree came to an end.
Naomi Fink, Japan Strtegist of Bank of Tokyo Mitsubshi UFJ said "There's no real profit to be gained by intervening, plus, if you look at Japan's multinationals, well they are diversified. A lot of the manufacturers have hollowed out, so they're much more capable of dealing with the yen strength than they were, for instance, in the late nineties. So I think, for the real economy, yes, the yen strength matters a lot less than it did before, but for perhaps corporate sentiment, it still matters a lot."