BOJ’s Kuroda: The recent sharp, one-sided yen weakness is not good for the economy

Citing Bank of Japan (BOJ) Governor Haruhiko Kuroda, a Japanese government official said that “the recent sharp, one-sided yen weakness is not good for the economy.”

Japan government official added that Kuroda said, the BOJ will collaborate closely with the government to monitor financial and currency market movements, as well as, the impact on the economy and prices.

Market reaction

The yen failed to find any impetus from the above comments, leaving USD/JPY gyrating in a familiar range near 149.00, at the time of writing.