The Japanese yen staged a sharp rise after edging down to a multi-week low of 99.48 against the dollar and a 5-day low of 131.93 versus the euro, 87.37 against the franc and 142.90 against the pound in the early Asian session on Tuesday. This came after the Bank of Japan's Tankan Survey revealed that the sentiment among Japan's large manufacturers plummeted at a record rate in the first quarter of 2009, posting a score of -58. That was worse than analyst expectations for -55 following a score of -24 in the previous quarter. As of 8:00 pm ET, the yen was worth 130.21 against the euro, 86.36 versus the franc, 141.01 against the pound and 98.4 per euro.

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