The Japanese Yen is trading at its lowest level in several months against the US dollar and the Euro amid indications that the authorities is moving aggressive to boost the economic growth.

Japan's central bank, the Bank of Japan (BOJ) is expected to announce new plans to buy more government bonds and take aggressive actions to boost the economic growth in the country following the general elections in the country. Analysts said that the fall is due to expectations for additional political pressure on the Bank of Japan after this week's elections in the country.

The Bank of Japan said on Thursday that it is expanding its scheme to purchase treasury bills and government bonds by 10 trillion yen or about $119 billion. The latest addition would take the total to a whooping 101 trillion yen and is aimed at reviving the slowing growth in the world's third largest economy.

Shinzo Abe's Liberal Democratic Party won 294 seats in Japan's 480-member lower house of parliament, according to reports. The new government is expected to make BOJ act more aggressively to take steps to revive the economy. BoJ is also offering unlimited loans to banks in the country boost domestic demand and encourage lending.

The Yes is trading at 84.36 against the US dollar, which is close to the 20 month high of 84.62recorded in the previous week. The euro traded at 111.78 yen, which is close to the 16-month high of 112.59.