BoJ's Kuroda says rapid one-sided weakness in yen not desirable

The Governor of the Bank of Japan said that "rapid and one-sided" weakness in the yen were undesirable.

In remarks to parliament, Haruhiko Kuroda also said that it was too soon to talk about an exit from the central bank's ultra-loose monetary policy, Reuters reported.

For now, it remained "extremely important" to underpin the economy and guarantee that firms raised wages.

Nevertheless, the BoJ could debate that exit strategy once it was on track to meet its 2% inflation target alongside rising wages.

And the BoJ would not directly target the yen to guide monetary policy, he added.

"I don't think it's necessarily correct to assume the dollar's current single-handed rise will continue," he added.