Japan warns against yen's 'one-sided' rally

London

SOME cautious gains for European stock markets hauled the yen down off a 17-month high against the dollar on Monday after Japanese officials warned again that they could intervene against the currency's "one-sided" rally.

Chief cabinet secretary Yoshihide Suga said the Group of 20's agreement to avoid competitive devaluations did not mean Japan cannot intervene against currency moves, repeating language which has flagged intervention in the past.